Earnings Per Share

3 Months Ended

Mar. 31, 2021

The components of basic and diluted earnings per share (“EPS”) were as follows for the three months ended March 31 (in thousands, except per share amounts):


	Three Months Ended March 31,
	2021		2020
			(As Restated)
Net income	$	1,501	$	48,043
Less: Net income applicable to contingently issuable shares	—		798
Net income on which diluted earnings per share is calculated	$	1,501	$	47,245

Basic weighted average outstanding shares of common stock	93,471		78,003
Dilutive effect of stock-based awards for common stock	809		862


Dilutive effect of contingent earnout shares before conversion	—		228
Diluted weighted average outstanding shares of common stock	94,280		79,093

Earnings per share:
Basic	$	0.02	$	0.62
Diluted	$	0.02	$	0.60

Anti-dilutive stock-based awards, contingent earnout shares and Warrants excluded from the calculations of diluted EPS were 5,359,661 and 28,217,335 for the three months ended March 31, 2021 and 2020, respectively.