Earnings (Loss) Per Common Share

9 Months Ended

Sep. 30, 2023

Summarized basic and diluted earnings (loss) per common share were calculated as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands, except per share data)	2023		2022		2023		2022
Numerator:
Net earnings (loss)	$	4,363	$	(5,778)	$	6,075	$	9,710
Denominator:
Weighted-average shares outstanding	55,485		55,380		55,294		54,376
Effect of dilutive stock awards(1) (2)	1,367		—		1,373		5,422
Weighted-average dilutive shares	56,852		55,380		56,667		59,798

Basic earnings (loss) per common share	$	0.08	$	(0.10)	$	0.11	$	0.18
Diluted earnings (loss) per common share(1) (2)	$	0.08	$	(0.10)	$	0.11	$	0.16
Anti-dilutive securities excluded from diluted earnings (loss) per common share:
Anti-dilutive restricted share units	43		465		43		81
Anti-dilutive performance share units	—		941		740		197
Anti-dilutive stock options	129		865		200		279

(1) Weighted-average dilutive shares outstanding for the nine months ended September 30, 2023 and 2022, includes approximately 0.4 million and 3.7 million common shares, respectively, issued in connection with the acquisition of Acima Holdings and subject to vesting conditions under restricted stock agreements.

(2) There was no dilutive effect to the loss per common share for the three months ended September 30, 2022 due to the net loss incurred for the period.