XML 27 R16.htm IDEA: XBRL DOCUMENT v3.22.2.2
EARNINGS PER SHARE
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
We compute basic and diluted earnings per common share by dividing net earnings by the respective weighted average number of common shares outstanding for the periods presented. Our calculation of diluted earnings per common share also includes the dilutive effects for the assumed vesting of outstanding options, RSUs and PRAs based on the treasury stock method. In computing diluted earnings per share, the average stock price for the period is used in determining the number of shares assumed to be purchased from the exercise of stock options. Diluted earnings per share excludes all dilutive potential shares if their effect is anti-dilutive.
Basic and diluted net loss per share is reflected in the following table:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2022202120222021
Net income (loss)$16,664,881 $(10,861,359)$(2,071,054)$(25,070,369)
Weighted-average number of common shares used in calculating basic earnings per share
17,965,858 15,863,027 17,343,309 15,242,261 
Effect of potentially dilutive equity awards115,628 — — — 
Weighted-average number of common shares used in calculating dilutive earnings per share
18,081,486 15,863,027 $17,343,309 $15,242,261 
Basic net income (loss) per weighted-average share$0.93 $(0.68)$(0.12)$(1.64)
Diluted net income (loss) per weighted-average share$0.92 $(0.68)$(0.12)$(1.64)
Potentially dilutive shares were not included in the calculation of diluted net income (loss) per share because their effect would have been anti-dilutive in those periods. PRAs were not included as their performance obligations had not been met. The potentially dilutive and anti-dilutive shares not included in diluted net income (loss) per share are presented in the following table:
Three Months Ended
September 30,
Nine Months Ended
September 30,
2022202120222021
Stock options222,733 272,504 358,483 272,504 
RSUs2,861 36,745 37,417 36,745 
PRAs79,468 60,000 79,468 60,000 
Total potentially dilutive shares305,062 369,249 475,368 369,249