EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2023

NOTE 7 – EARNINGS PER SHARE

Basic earnings per share of common stock is computed by dividing net income/(loss) by the weighted-average number of shares of common stock outstanding during the same period. Diluted earnings per share of common stock is computed by dividing net income/loss by the weighted-average number of shares of common stock adjusted to give effect to potentially dilutive securities. Where the inclusion of potentially dilutive shares would be antidilutive, diluted loss per share equals basic loss per share.

A reconciliation of the numerator and denominator used in the calculation of basic and diluted net income/(loss) per share of common stock is as follows (in 000’s except for shares and per share figures):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Numerator:
Net income/(loss)	$	(1,667)	$	(7,377)	$	95	$	(7,487)
Denominator:
Weighted average shares of common stock outstanding - basic	56,785,087		55,640,154		56,661,903		55,640,154
Add: Effect of dilutive securities	—		—		1,667,782		—
Weighted average shares of common stock outstanding - diluted	56,785,087		55,640,154		58,329,685		55,640,154
Income/(loss) per share of common stock outstanding - basic and diluted	$	(0.03)	$	(0.13)	$	0.00	$	(0.13)

The following number of potentially dilutive shares were excluded from the calculation of diluted loss per share because the effect of including such potentially dilutive shares would have been antidilutive.


	Three Months Ended September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022
Restricted stock units	661,723	2,565,267	777,849	2,565,267
Performance and market-based stock units	1,697,842	2,435,917	1,830,505	2,435,917