Net Income (Loss) Per Common Share (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Basic Net Income (Loss) Per Common Share

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, 2023 and 2022 (in thousands, except share and per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Net income (loss)	$	1,200	$	(10,868)	$	(3,783)	$	(21,357)



Accumulated dividends on Series B Preferred Stock	1,728		1,628		3,411		3,214
Net loss available to common stockholders	$	(528)	$	(12,496)	$	(7,194)	$	(24,571)
Weighted average common shares outstanding	115,866,371		112,867,912		115,136,646		112,245,334
Basic net loss per common share	$	(0.00)	$	(0.11)	$	(0.06)	$	(0.22)

Schedule of Diluted Net Income (Loss) Per Common Share

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,
	2023		2022		2023		2022
Net loss available to common stockholders	$	(528)	$	(12,496)	$	(7,194)	$	(24,571)
Adjustments:
Accumulated dividends on Series B Convertible Preferred Stock	1,728		1,628		3,411		3,214
Less: antidilutive adjustments	(1,728)		(1,628)		(3,411)		(3,214)
Total adjustments	—		—		—		—
Numerator	$	(528)	$	(12,496)	$	(7,194)	$	(24,571)
Weighted average shares outstanding	115,866,371		112,867,912		115,136,646		112,245,334
Adjustments
Potential common shares	30,996,553		29,199,666		30,273,154		29,102,650
Less: antidilutive potential common shares (a)	(30,996,553)		(29,199,666)		(30,273,154)		(29,102,650)
Total adjustments	—		—		—		—
Weighted average shares outstanding adjusted for potential common shares	115,866,371		112,867,912		115,136,646		112,245,334
Diluted net loss per common share	$	(0.00)	$	(0.11)	$	(0.06)	$	(0.22)

(a) Weighted average common shares outstanding for the calculation of diluted net loss per common share does not include the following adjustments for potential common shares below because their effects were determined to be antidilutive for the periods presented.

Schedule of Antidilutive Securities


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
Series B Convertible Preferred Stock	29,997,271	28,262,957	29,559,946	27,850,916
Restricted stock unit awards	943,659	487,708	674,215	635,997
Restricted stock awards	34,244	295,107	24,572	444,511
Performance stock unit awards	16,189	61,488	11,486	30,914
Outstanding stock options	5,190	92,406	65	140,312
Employee stock purchase plan	—	—	2,870	—
Potential common shares	30,996,553	29,199,666	30,273,154	29,102,650