EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2024

The following is a reconciliation of the numerator and denominator for basic and diluted income (loss) per share for the three months ended March 31, 2024 and 2023 (in thousands, except per share amounts):


	Three Months Ended March 31,
	2024		2023
Basic income (loss) per Share
Numerator:
Net income (loss) attributable to shareholders from continuing operations	$	(17,734)	$	3,523
Net income attributable to shareholders from discontinued operations, net of tax	—		50,340
Net income (loss) attributable to common shareholders	$	(17,734)	$	53,863
Denominator:
Weighted-average common shares outstanding	93,514		75,689
Basic income (loss) per common shares
Continuing operations	$	(0.19)	$	0.05
Discontinued operations, net of tax	—		0.66
Basic income (loss) per share	$	(0.19)	$	0.71

Diluted Income (Loss) per Share
Numerator:
Net income (loss) attributable to shareholders from continuing operations	$	(17,734)	$	3,523


Net income available to shareholders from discontinued operations, net of tax	—		50,340
Net income (loss) available to common shareholders	$	(17,734)	$	53,863
Denominator:
Weighted-average shares outstanding	93,514		75,689
Effect of dilutive securities*
Stock options and warrants	—		3,307

Diluted weighted-average shares outstanding	93,514		78,996
Diluted income (loss) per common shares
Continuing operations	$	(0.19)	$	0.04
Discontinued operations, net of tax	—		0.64
Diluted income (loss) per share	$	(0.19)	$	0.68

*Excludes 4.1 million shares of common stock for the three months ended March 31, 2024, of which 3.8 million shares may be issued upon exercise of warrants and 0.3 million shares may be issued upon exercise of options. Also, excludes 3.6 million and 22.2 million shares of common stock for the three months ended March 31, 2024 and 2023, respectively, which may be issued upon conversion of the Convertible Senior Notes, based on the initial maximum conversion rate of 233.6449 shares of the Company’s common stock per $1,000 principal amount of Convertible Senior Notes. These were excluded due to their anti-dilutive effect.