Net Loss Per Common Share (Tables)

3 Months Ended

Mar. 31, 2021

The following table provides a reconciliation of net loss to net loss available to common stockholders and calculation of basic net loss per common share for each of the three months ended March 31, 2021 and 2020 (amounts in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2021		2020
Net loss	$	(8,382)	$	(4,821)
Adjustments to reconcile to net (loss) income available to common stockholders
Accumulated dividend on Series B Convertible Preferred Stock	1,006		—

Accretion of increasing-rate dividend feature	462		—
Total adjustments	1,468		—
Net loss available to common stockholders	$	(9,850)	$	(4,821)
Weighted average common shares outstanding	109,401,383		107,538,509
Basic net loss per common share	$	(0.09)	$	(0.04)

Schedule of Earnings Per Share, Diluted

The following table sets forth the computation of diluted net loss per common share (in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2021		2020
Net loss available to common stockholders	$	(9,850)	$	(4,821)
Dividends on Series B Convertible Preferred Stock	1,468		—
Numerator	$	(9,850)	$	(4,821)
Weighted average shares outstanding	109,401,383		107,538,509
Potential common shares (a)	30,470,089		2,706,804
Weighted average shares outstanding adjusted for potential common shares	109,401,383		107,538,509
Diluted net loss per common share	$	(0.09)	$	(0.04)

(a) Potential common shares reflects hypothetical transactions involving convertible securities and share-based payment awards using the if-converted and treasury stock methods, respectively. The effect of each of these adjustments on the calculation is presented in the table below:


	Three Months Ended March 31,
	2021	2020
Series B Convertible Preferred Stock	26,497,570	—
Restricted stock awards	1,629,273	1,769,847
Restricted Stock Unit Awards	1,349,898	—
Outstanding Stock Options	964,640	919,555
Performance Based Awards	28,708	17,402
Potential common shares	30,470,089	2,706,804