Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2024

The following table sets forth the computation of basic and diluted income (loss) per common share (in thousands, except per share data):


	Three Months Ended March 31,
Basic income (loss) per common share	2024		2023
Net income (loss)	$	7,533	$	(13,532)
Net (income) loss allocated to participating securities	(22)		60
Net income (loss) allocated to common shareholders	$	7,511	$	(13,472)

Basic weighted-average common shares outstanding	41,290		40,432
Basic income (loss) per common share	$	0.18	$	(0.33)


	Three Months Ended March 31,
Diluted income (loss) per common share	2024		2023
Net income (loss)	$	7,533	$	(13,532)
Net (income) loss allocated to participating securities	(19)		60
Net income attributable to convertible senior notes	935		—
Net income (loss) allocated to common shareholders	$	8,449	$	(13,472)

Basic weighted-average common shares outstanding	41,290		40,432
Effect of dilutive stock options and awards	889		—
Effect of convertible senior notes	5,707		—
Diluted weighted-average common shares outstanding	47,886		40,432
Diluted income (loss) per common share	$	0.18	$	(0.33)

We excluded stock options from the calculation of diluted weighted-average common shares outstanding if the per share value, including the sum of (i) the exercise price of the options and (ii) the amount of the compensation cost attributed to future services and not yet recognized, was greater than the average market price of the shares because the inclusion of these stock options would be antidilutive to loss per common share. For the three months ended March 31, 2024 $1.3 million of potential common shares related to stock options and awards were antidilutive and excluded from the calculation of diluted weighted-average common shares outstanding. For the three months ended March 31, 2023 all stock options and awards were excluded from the calculation of diluted weighted-average common shares outstanding as these would be antidilutive due to the net loss.