Earnings per share

9 Months Ended

Sep. 30, 2021

Basic and diluted earnings or losses per share (“EPS”) are as follows ($ in thousands, except share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Numerator
Net loss	$	(12,371)	$	(78,604)	$	(89,884)	$	(188,618)
Denominator
Denominator for basic EPS - weighted-average number of shares outstanding	164,218,262		134,493,864		163,067,561		131,426,886
Effect of dilutive securities
Unvested restricted share awards	—		—		—		—
Denominator for diluted EPS - adjusted weighted-average number of shares outstanding	164,218,262		134,493,864		163,067,561		131,426,886

EPS - Basic	$	(0.08)	$	(0.58)	$	(0.55)	$	(1.44)
EPS - Diluted	$	(0.08)	$	(0.58)	$	(0.55)	$	(1.44)

For the three and nine months ended September 30, 2021 and 2020, 1,027,519 and 1,200,714 shares of unvested performance-based equity awards, respectively, were not included in the computation of diluted EPS after assumed conversions as their effect would have been anti-dilutive. The performance targets of our unvested performance-based equity awards were partially achieved as of September 30, 2021, but were not achieved as of September 30, 2020.

For the three and nine months ended September 30, 2021 and 2020, 3,225,332 and 2,300,089 shares of unvested restricted share awards were not included in the computation of diluted EPS as their effect would have been anti-dilutive.

For the three and nine months ended September 30, 2021 and 2020, outstanding earnout warrants to acquire a total of 2,987,770 ordinary shares were not included in the computation of diluted EPS after assumed conversions because the warrants were not exercisable as of the end of the respective reporting period.