| Schedule of Weighted Average Number of Shares |
The following table presents the calculation of weighted average shares used to calculate basic and diluted (loss) income per share (in thousands, except share and per share amounts):
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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2022 |
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2021 |
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|
2022 |
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|
2021 |
|
Basic net (loss) income per common share: |
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Net (loss) income |
|
$ |
(3,991 |
) |
|
$ |
8,087 |
|
|
$ |
(10,540 |
) |
|
$ |
(27,689 |
) |
Undistributed earnings allocated to participating securities |
|
|
— |
|
|
|
(2,969 |
) |
|
|
— |
|
|
|
— |
|
Net (loss) income attributable to common shares - basic |
|
$ |
(3,991 |
) |
|
$ |
5,118 |
|
|
$ |
(10,540 |
) |
|
$ |
(27,689 |
) |
Weighted average shares used in calculating basic (loss) income per share |
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48,709,846 |
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|
12,100,292 |
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|
28,634,209 |
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|
|
7,902,104 |
|
Basic net (loss) income per common share |
|
$ |
(0.08 |
) |
|
$ |
0.42 |
|
|
$ |
(0.37 |
) |
|
$ |
(3.50 |
) |
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Diluted net (loss) income per common share: |
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Net (loss) income |
|
$ |
(3,991 |
) |
|
$ |
8,087 |
|
|
$ |
(10,540 |
) |
|
$ |
(27,689 |
) |
Change in fair value of warrants |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(5,119 |
) |
Undistributed earnings allocated to participating securities |
|
|
— |
|
|
|
(2,968 |
) |
|
|
— |
|
|
|
— |
|
Net (loss) income attributable to common shares - diluted |
|
$ |
(3,991 |
) |
|
$ |
5,119 |
|
|
$ |
(10,540 |
) |
|
$ |
(32,808 |
) |
Weighted-average shares outstanding |
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|
48,709,846 |
|
|
|
12,100,292 |
|
|
|
28,634,209 |
|
|
|
7,902,104 |
|
Effect of potentially dilutive securities |
|
|
— |
|
|
|
6,479 |
|
|
|
— |
|
|
|
50,894 |
|
Weighted average shares used in calculating diluted (loss) income per share |
|
|
48,709,846 |
|
|
|
12,106,771 |
|
|
|
28,634,209 |
|
|
|
7,952,998 |
|
Diluted net (loss) income per common share |
|
$ |
(0.08 |
) |
|
$ |
0.42 |
|
|
$ |
(0.37 |
) |
|
$ |
(4.13 |
) |
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The following potentially dilutive securities were excluded from the calculation of diluted net (loss) income per share because their effects would be anti-dilutive:
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September 30, |
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2022 |
|
|
2021 |
|
Stock options |
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2,586,976 |
|
|
|
799,562 |
|
Warrants for common stock |
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|
122,924,912 |
|
|
|
8,491,006 |
|
Series A Convertible Preferred Stock |
|
|
6,479 |
|
|
|
— |
|
Total |
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|
125,518,367 |
|
|
|
9,290,568 |
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|