Earnings Per Share

3 Months Ended

Mar. 31, 2023


3. Loss Per Share

We compute basic loss per share by dividing net loss available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted loss per share is computed by dividing net loss available to common stockholders by the weighted average number of common shares and dilutive potential common shares outstanding during the period. Diluted loss per share reflects the assumed exercise, settlement and vesting of all dilutive securities using the “treasury stock method” except when the effect is anti-dilutive. Potentially dilutive securities consist of shares issuable upon the exercise of stock options, settlement of stock appreciation rights and vesting of restricted stock awards and units. Diluted loss per share for the three months ended March 31, 2023 and 2022 was the same as basic loss per share as there were net losses in both periods and inclusion of potentially dilutive securities was anti-dilutive.

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


	Three months ended March 31,
(dollars in thousands, except per share amounts)		2023		2022
Numerator:
Net loss		$	(14,701)	$	(10,407)
Denominator:
Weighted average common shares		52,132,999		51,199,717
Add effect of dilutive securities:
Stock-based awards		—		—
Weighted average common shares assuming dilution		52,132,999		51,199,717
Loss per share
Basic		$	(0.28)	$	(0.20)
Diluted		$	(0.28)	$	(0.20)

Anti-dilutive shares excluded from calculations of diluted loss per share		1,638,453		1,558,751