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Net Loss Per Common Share
 6 Months Ended
Jun. 30, 2021
Earnings Per Share [Abstract]  
Net Loss Per Common Share Net Loss Per Common Share
Net loss per common share is calculated using two methods: basic and diluted.
Basic Net Loss Per Common Share
Basic net loss per common share is calculated as net loss available to common stockholders divided by weighted average common shares outstanding. Net loss available to common stockholders is calculated as net loss less (i) dividends accumulated on the Company’s Series B Convertible Preferred Stock during the period, and (ii) periodic accretion of the increasing-rate dividend feature.
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 and six months ended June 30, 2021 and 2020 (amounts in thousands, except share and per share amounts):
 Three Months Ended June 30,Six Months Ended June 30,
 2021202020212020
Net loss$(1,779)$(8,466)$(10,161)$(13,287)
Adjustments to reconcile to net (loss) income available to common stockholders
Accumulated dividend on Series B Convertible Preferred Stock1,033 — 2,039 — 
Accretion of increasing-rate dividend feature464 — 926 — 
Total adjustments1,497 — 2,965 — 
Net loss available to common stockholders$(3,276)$(8,466)$(13,126)$(13,287)
Weighted average common shares outstanding110,276,636 108,119,461 109,841,428 108,081,625 
Basic net loss per common share$(0.03)$(0.08)$(0.12)$(0.12)
Diluted Net Loss Per Common Share
Diluted net loss per common share is calculated as net loss available to common stockholders, adjusted for dividends on convertible preferred stock (to the extent such conversions would be dilutive), divided by weighted average common shares outstanding plus potential common shares. The calculation of potential common shares considers incremental shares resulting from certain transactions, including the exercise of stock options and the issuance of restricted stock using the treasury stock method, as well as the hypothetical conversion of the Company’s Series B Convertible Preferred Stock using the if-converted method. The treasury stock method assumes that proceeds from the transaction are used to purchase common stock at the average market price throughout the period. The if-converted method adds back dividends accrued or deemed on the Company’s Series B Convertible Preferred Stock and assumes conversion as of the later of the beginning of the period or the original transaction date.
Each individual transaction is assessed for its dilutive effect on net loss per common share. To the extent that the transaction is antidilutive, or does not reduce net loss per common share, the effect is excluded from the calculation.
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 June 30,Six Months Ended June 30,
 2021202020212020
Net loss available to common stockholders$(3,276)$(8,466)$(13,126)$(13,287)
Dividends on Series B Convertible Preferred Stock1,497 — 2,965 — 
Numerator$(3,276)$(8,466)$(13,126)$(13,287)
Weighted average shares outstanding110,276,636 108,119,461 109,841,428 108,081,625 
Potential common shares (a)30,373,856 1,635,618 30,232,150 2,117,833 
Weighted average shares outstanding adjusted for potential common shares110,276,636 108,119,461 109,841,428 108,081,625 
Diluted net loss per common share$(0.03)$(0.08)$(0.12)$(0.12)
(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 June 30,Six Months Ended June 30,
2021202020212020
Series B Convertible Preferred Stock26,758,916 — 26,497,570 — 
Restricted stock awards1,271,626 1,044,479 1,450,671 1,386,674 
Restricted stock unit awards1,471,412 — 1,345,953 — 
Outstanding stock options838,644 562,513 906,811 714,600 
Performance stock unit awards33,258 28,626 31,145 16,559 
Potential common shares30,373,856 1,635,618 30,232,150 2,117,833