Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2022

Net Income (Loss) Per Common Share

The following table summarizes the computation of basic and diluted net income (loss) per common share.


	Years Ended December 31,
	2022		2021		2020
Numerator:
Loss from continuing operations	$	(26,098)	$	(14,425)	$	(139,490)

Adjustment for preferred stock cumulative dividends and deemed dividends	(10,894)		(21,478)		(12,373)

Numerator for basic and diluted net loss from continuing operations per common share	(36,992)		(35,903)		(151,863)
Income from discontinued operations, net of tax	—		1,200		38,898
Numerator for basic and diluted net loss per common share	$	(36,992)	$	(34,703)	$	(112,965)

Denominator:
Weighted average common shares outstanding	43,738		42,991		42,692
Adjustment for participating securities	(951)		(461)		(493)
Adjustment for 2021 Warrants outstanding (1)	1,893		1,481		—




Shares used to calculate basic and diluted net loss per share	44,680		44,011		42,199

Per common share net income (loss):







Basic and diluted net loss from continuing operations per common share	$	(0.83)	$	(0.82)	$	(3.60)
Basic and diluted net income from discontinued operations per common share	—		0.03		0.92
Basic and diluted net loss per common share	$	(0.83)	$	(0.79)	$	(2.68)
Cash dividends declared per common share	$	—	$	—	$	—

_______________________________

(1) Weighted average 2021 Warrants outstanding are included in shares outstanding for calculation of basic earnings per share because they are exercisable at an exercise price of $0.01 per share, subject to certain adjustments (see Note 19).

The following table presents potentially dilutive securities that were excluded from the calculation of diluted net income (loss) per common share because they had an anti-dilutive effect.


	Years Ended December 31,
	2022	2021	2020
Options	557	766	871
2019 Warrants	1,500	1,500	1,500
Series B Preferred Stock, as-converted	—	—	19,021
	2,057	2,266	21,392

Stock options excluded from the EPS calculations had a per share exercise price ranging from $7.93 to $25.16 for the year ended December 31, 2022. The 2019 Warrants excluded from the EPS calculations for the year ended December 31, 2022 had a per share exercise price of $11.49.