Net Income (Loss) per Share

12 Months Ended

Dec. 31, 2022

Net Income (Loss) per Share

Net Income (Loss) per Share

8.Net Income (Loss) per Share

Basic net income (loss) per share is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share is computed similarly, except that

weighted-average common shares is increased to reflect the potential dilution that would occur if stock options were exercised or PSUs were converted into common stock. The dilutive effects are calculated using the treasury stock method.

For the year ended December 31, 2022, all stock options outstanding have been excluded from the dilutive earnings per common share calculation as the exercise price of these stock options was greater than the average market value of our common stock for those periods, resulting in an anti-dilutive effect. Additionally, for the year ended December 31, 2022, all PSUs were excluded from the diluted earnings per common share calculation as the shares would be anti-dilutive. The Company experienced a net loss in the year ended December 31, 2021, thus all stock options, PSUs and DSUs have been excluded as they would be anti-dilutive.

A reconciliation of basic and diluted earnings per common share is presented below:

	Year Ended December 31,
	2022		2021
Net income (loss)	$	14,529	$	(65,855)
Weighted average shares:
Basic		69,162,223		63,994,693
Effect of dilutive DSUs		146,796		—
Diluted		69,309,019		63,994,693
Net income (loss) per share:
Basic	$	0.21	$	(1.03)
Diluted	$	0.21	$	(1.03)