Note 12 – Earnings Per Share
As a result of the Mergers discussed in Note 1 – Nature of Operations and Basis of Presentation, all historical per share data and number of shares and numbers of equity awards were retroactively adjusted. The following table provides the computation of basic and diluted earnings per share: | | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | (in thousands, except share and per share data) | 2023 | | 2022 | | | | | | | | | | | | | Basic income per share: | | | | | | | | Net income (loss) | $ | 5,907 | | | $ | (2,537) | | | | | | Basic weighted average shares outstanding | 21,120,770 | | | 10,300,866 | | | | | | Basic income (loss) per share of common stock | $ | 0.28 | | | $ | (0.25) | | | | | | | | | | | | | | Diluted income per share: | | | | | | | | Net income (loss) | $ | 5,907 | | | $ | (2,537) | | | | | | Basic weighted average shares outstanding | 21,120,770 | | | 10,300,866 | | | | | | Effect of dilutive securities | 183,434 | | | — | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Diluted weighted average shares outstanding | 21,304,204 | | | 10,300,866 | | | | | | Diluted income (loss) per share of common stock | $ | 0.28 | | | $ | (0.25) | | | | | | Anti-dilutive securities excluded from the calculation of diluted income per share | — | | | 266,984 | | | | | |
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