(Loss) Earnings per Share

12 Months Ended

Dec. 31, 2023

Basic and diluted (loss) earnings per share for the years ended December 31, 2023, 2022 and 2021, respectively consisted of the following (in thousands, except per share data):


	Years Ended December 31,
	2023		2022		2021
Numerator (Basic and Diluted):
Net (loss) income	$	(34,035)	$	104,225	$	142,470
Change in value for stock settled consideration(1)	65		(37)		27
Adjusted net (loss) income	$	(33,970)	$	104,188	$	142,497

Denominator:
Basic
Weighted average common shares issued and outstanding	38,674		39,751		39,575
Deduct: Unvested RSAs (2)	(15)		(12)		(14)
Add: Fully vested DSUs (3)	—		154		327
Weighted average common shares outstanding	38,659		39,893		39,888

Basic (loss) earnings per common share	$	(0.88)	$	2.61	$	3.57
Diluted
Weighted average common shares outstanding from above	38,659		39,893		39,888
Add: Dilutive effect of RSUs, RSAs & ESPP(4)	—		207		206
Add: Contingently issuable shares(1)(4)	—		86		93
Weighted average common shares outstanding	38,659		40,186		40,187
Diluted (loss) earnings per common share	$	(0.88)	$	2.59	$	3.55
Antidilutive shares excluded from diluted earnings per common share(5)	1,593		1,084		366

(1)Relates to contingently issuable stock settled consideration.

(2)RSAs were issued and outstanding to the non-employee directors and have a one-year vesting term subject to service requirements. See Note 11 – “Stock-Based Compensation Plans” for additional information.

(3)Shares are included in weighted average common shares outstanding as the shares are fully vested but have not yet been delivered. See Note 11 – “Stock-Based Compensation Plans” for additional information.

(4)Shares related to the Company's RSUs, RSAs, ESPP, and contingently issuable shares were excluded from the weighted average common shares outstanding for the year ended December 31, 2023 because inclusion of such shares would be antidilutive in a period of loss.

(5)Primarily pertaining to RSU grants to the Company’s employees and independent contractors.