Earnings per Share

9 Months Ended

Sep. 30, 2022

Earnings per Share

Income (Loss) per Share

9.      Earnings per Share

Basic earnings per share is calculated by dividing net income (loss) attributable to controlling interest by the weighted average shares of common stock outstanding during the period, without consideration for common stock equivalents. The Company excluded 5,664,870 equity awards for the three and nine months ended September 30, 2022 and 3,070,665 and 440,737 for the three and nine months ended September 30, 2021, respectively, as inclusion would be anti-dilutive.

The basic and diluted earnings per share calculations for the three and nine months ended September 30, 2022 and 2021, respectively, are presented below (in thousands, except per share amounts):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Numerator - Basic
Net income (loss)	$	(19,411)	$	(5,638)	$	(28,338)	$	16,120
Net income attributable to noncontrolling interest		379		(160)		908		(36)
Net income (loss) attributable to common stockholder	$	(19,790)	$	(5,478)	$	(29,246)	$	16,156
Numerator - Dilutive
Net income (loss)	$	(19,411)	$	(5,638)	$	(28,338)	$	16,120
Net loss attributable to noncontrolling interest		379		(160)		908		(34)
Net income (loss) attributable to common stockholder	$	(19,790)	$	(5,478)	$	(29,246)	$	16,154
Basic weighted average of outstanding shares of common stock		51,562		50,563		51,213		50,293
Dilutive effect of equity awards		—		—		—		954
Dilutive effect of assumed subsidiary share conversion		—		—		—		592
Diluted weighted average of outstanding shares of common stock		51,562		50,563		51,213		51,839
Basic earnings (loss) per share	$	(0.38)	$	(0.11)	$	(0.57)	$	0.32
Diluted earnings (loss) per share	$	(0.38)	$	(0.11)	$	(0.57)	$	0.31