Note 13 - Loss Per Common Share

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

13. LOSS PER COMMON SHARE

All common stock share and per share data reflects the reverse stock split effective April 21, 2023, as described in Note 19 Subsequent Events, Reverse stock split.

In accordance with Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 260 (“FASB ASC 260”), “Earnings per Share,” Basic loss from continuing operations per share, basic income from discontinued operations per share and basic net income (loss) per share that is available to shareholders is computed by dividing the income or loss by the weighted average number of common shares outstanding during the period. Diluted net loss per share is computed by dividing the respective loss available to common stockholders by the weighted average number of diluted shares outstanding during the period calculated using the treasury stock method. Due to the Company’s loss from continuing operations in the three months ended March 31, 2023 and March 31, 2022, the assumed exercise of stock options, warrants and the unvested restricted stock that would otherwise increase diluted shares using the treasury stock method would have had an antidilutive effect and therefore 5 thousand shares related to stock options, 0.4 million warrants outstanding at March 31, 2023 and 87 thousand shares of restricted stock units were excluded from the computation of diluted net loss per share for the three months ended March 31, 2023 and 5 thousand shares related to stock options outstanding at  March 31, 2022 were excluded for the three months ended March 31, 2022 and zero shares of restricted stock and restricted stock units were excluded from the computation of diluted net loss per share for the three months ended March 31, 2022.  Accordingly, diluted earnings (loss) per share for continuing operations, discontinued operations and net income is the same as basic earnings (loss) per share for continuing operations, discontinuing operations and net loss for the three months ended  March 31, 2023 and 2022.

	For the Three Months
(in thousands, except share and per share amounts)	Ended March 31,
	2023			2022
Loss from continuing operations, net of income taxes	$	(20,257	)	$	(36,670	)
Loss from discontinued operations, net of income taxes		(268	)		(953	)
Net loss	$	(20,525	)	$	(37,623	)
Basic and diluted weighted average number of shares outstanding		4,327,323			2,078,168
Loss from continuing operations per common share - basic and diluted	$	(4.60	)	$	(17.63	)
Loss from discontinued operations per common share - basic and diluted		(0.06	)		(0.46	)
Loss per common share - basic and diluted	$	(4.66	)	$	(18.09	)