Net Income (Loss) per Common Share

9 Months Ended

Sep. 30, 2021

Basic net income (loss) per share is calculated based on the weighted average number of common shares outstanding during the period. Diluted net loss per share incorporates the dilutive effect of common stock equivalent options, warrants and other convertible securities, if any, as determined with the treasury stock accounting method. For the nine months ended September 30, 2021, since there was a net loss, the Company excluded all 756 in outstanding stock options and non-vested restricted shares from its diluted loss per share calculation, as inclusion of these securities would have reduced the net loss per share. For the three and nine months ended September 30, 2020, since there was a net loss, the Company excluded all 1,705 and 1,430, respectively, in outstanding stock options and non-vested restricted shares from its diluted loss per share calculation, as inclusion of these securities would have reduced the net loss per share.

A reconciliation of the basic and diluted weighted average common shares outstanding is as follows:


	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2021	2020	2021	2020
Weighted average common shares outstanding—basic	18,341	17,723	18,152	17,634
Dilutive common shares issuable in connection with stock plans	225	—	—	—
Weighted average common shares outstanding—diluted	18,566	17,723	18,152	17,634