Income (Loss) Per Common Share (Tables)

6 Months Ended

Jun. 30, 2022

Computation of Basic and Diluted Net Income (Loss) Per Common Share

	Three Months Ended					Six Months Ended
	June 30,					June 30,
	2022		2021			2022		2021
	(In Thousands, Except Per Share Amounts)
Numerator:
Net income (loss)	$	103,399	$	23,670		$	162,165	$	10,391
Adjustments for basic income (loss) per common share:
Dividend requirements on Series E Redeemable Preferred		—		(10,213	)		—		(19,724	)
Dividend requirements on Series B Preferred		—		(60	)		—		(120	)
Dividend requirements on Series D Preferred		—		(15	)		—		(30	)
Accretion of Series E Redeemable Preferred		—		(513	)		—		(1,024	)
Net income attributable to participating securities		—		(223	)		—		—
Numerator for basic net income (loss) per common share - net income (loss) attributable to common stockholders	$	103,399	$	12,646		$	162,165	$	(10,507	)
Dividends on Series B and Series D Preferred assumed to be converted, if dilutive		—		75			—		—
Numerator for diluted net income (loss) per common share	$	103,399	$	12,721		$	162,165	$	(10,507	)

Denominator:
Denominator for basic net income (loss) per common share - adjusted weighted-average shares (1)		88,181		37,031			88,301		37,162
Effect of dilutive securities:
Convertible preferred stocks		—		1,192			—		—
Unvested restricted stock and stock units		1,383		964			1,364		—
Dilutive potential common shares		1,383		2,156			1,364		—
Denominator for diluted net income (loss) per common share - adjusted weighted-average shares		89,564		39,187			89,665		37,162

Basic net income (loss) per common share	$	1.17	$	0.34		$	1.84	$	(0.28	)

Diluted net income (loss) per common share	$	1.15	$	0.32		$	1.81	$	(0.28	)

(1)

Excludes the weighted-average shares of unvested restricted stock that are contingently issuable.

Antidilutive Securities Excluded from Computation of Diluted Net Loss Per Common Share

The following weighted-average shares of securities were not included in the computation of diluted net loss per common share as their effect would have been antidilutive:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2022		2021		2022		2021
Restricted stock and stock units		82,072		—		41,037		2,142,335
Convertible preferred stocks		—		—		—		1,191,666
Series E Redeemable Preferred - embedded derivative		—		303,646		—		303,646
Stock options		13,000		81,274		13,000		94,390
		95,072		384,920		54,037		3,732,037