Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Computation of Basic and Diluted Earnings Per Share

The following table sets forth the computation of basic and diluted (loss) earnings per share:

	Three months ended September 30,				Nine months ended September 30,
(dollars in thousands, except per share amounts)	2022		2021		2022		2021
Numerator:
Net (loss) income	$	(10,319)	$	6,188	$	(24,148)	$	12,755
Denominator:
Weighted average common shares	51,692,152		47,542,746		51,519,340		47,554,746
Add effect of dilutive securities:
Stock-based awards	—		731,326		—		705,210
Weighted average common shares assuming dilution	51,692,152		48,274,072		51,519,340		48,259,956
(Loss) earnings per share:
Basic	$	(0.20)	$	0.13	$	(0.47)	$	0.27
Diluted	$	(0.20)	$	0.13	$	(0.47)	$	0.26
Anti-dilutive shares excluded from calculations of diluted (loss) earnings per share	936,214		904,100		1,195,709		1,034,091