Note 19 - Earnings Per Share

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

19. Earnings (loss) per share

Basic earnings (loss) per share attributable to Company stockholders is calculated by dividing net income attributable to the Company by the weighted-average number of common shares outstanding for the period. Diluted earnings per share attributable to Company stockholders is computed by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding, assuming all potentially dilutive shares were issued. We apply the treasury stock method to determine the dilutive weighted average common shares represented by unvested restricted stock units, stock options and Employee Stock Purchase Program (“ESPP”) shares.

The calculation of basic and diluted earnings (loss) per share attributable to Company stockholders for the three and nine months ended September 30, 2024 and 2023, respectively, are as follows (in thousands):

	Three Months Ended September 30,					Nine Months Ended September 30,
	2024		2023			2024		2023
Net income (loss)	$	16,275	$	(13,886	)	$	28,884	$	(10,942	)
Basic weighted average number of shares outstanding		117,468		108,777			113,888		108,765
Effect of dilutive securities:
Unvested restricted stock units		398		-			1,342		-
ESPP shares		8		-			6		-
Stock options		420		-			369		-
Diluted weighted average number of shares outstanding		118,294		108,777			115,605		108,765
Total basic earnings (loss) per share	$	0.14	$	(0.13	)	$	0.25	$	(0.10	)
Total diluted earnings (loss) per share	$	0.14	$	(0.13	)	$	0.25	$	(0.10	)

Approximately 0.8 million and 0.6 million shares of unvested restricted stock units and stock to be issued pursuant to the ESPP have been excluded from the computation of diluted loss per share as the effect would be anti-dilutive for the three and nine months ended September 30, 2023, respectively.