Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) per Share (Tables)

v3.23.1
Earnings (Loss) per Share (Tables)
3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
Computation of Earnings Per Share

The computation of EPS is as follows:

 

 

Three months ended
March 31,

 

 

 

2023

 

 

2022

 

Numerator—basic and diluted:

 

 

 

 

 

 

Net loss

 

$

(20,349

)

 

$

(14,214

)

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

Weighted average common shares - basic common stock (1)

 

 

23,009,617

 

 

 

22,754,421

 

Weighted average common shares - diluted common stock (2)

 

 

23,009,617

 

 

 

22,754,421

 

 

 

 

 

 

 

 

Net loss per share - basic common stock

 

$

(0.88

)

 

$

(0.62

)

Net loss per share - diluted common stock (2)

 

$

(0.88

)

 

$

(0.62

)

 

 

 

 

 

 

 

Denominator calculation from basic to diluted:

 

 

 

 

 

 

Weighted average common shares - basic common stock (1)

 

 

23,009,617

 

 

 

22,754,421

 

Stock options and other dilutive awards

 

 

228,281

 

 

 

88,193

 

Weighted average common shares - diluted common stock

 

 

23,237,898

 

 

 

22,842,614

 

Shares excluded from diluted weighted average shares:

 

 

 

 

 

 

Stock options

 

 

286,861

 

 

 

380,890

 

Restricted stock units and restricted stock awards

 

 

491,406

 

 

 

577,242

 

Shares excluded from diluted weighted average shares

 

 

778,267

 

 

 

958,132

 

 

(1)
Unvested restricted stock units and restricted stock awards are not included as shares outstanding in the calculation of basic earnings per share. Vested restricted stock units and restricted stock awards are included in basic earnings per share if all vesting and performance criteria have been met. Performance-based restricted stock units and restricted stock awards are included in the number of shares used to calculate diluted earnings per share as long as all applicable performance criteria are met, and their effect is dilutive. Restricted stock awards are eligible to receive all dividends declared on the Company’s common shares during the vesting period; however, such dividends are not paid until the restrictions lapse.
(2)
Due to net losses for the three months ended March 31, 2023 and March 31, 2022, diluted loss per share is the same as basic.