EARNINGS PER SHARE (''EPS'')

12 Months Ended

Dec. 31, 2023

10. EARNINGS PER SHARE (“EPS”)

The computation of basic EPS is based on the Company’s weighted average shares outstanding. No shares of Series D Preferred Stock, Series A Preferred Stock, or Series A1 Preferred Stock outstanding as of December 31, 2023 were included in the computation of diluted EPS because they had no dilutive effect. In order to calculate the diluted weighted average number of shares of Common Stock outstanding for the year ended December 31, 2022, the basic weighted average number of shares of Common Stock outstanding was increased by 1,000 to reflect the dilutive effect of certain shares of the Company’s Series D Preferred Stock. Outstanding Series A Preferred Warrants were not included in the computation of diluted EPS for the years ended December 31, 2023 and 2022 because their impact was either anti-dilutive or such warrants were not exercisable during such periods (Note 12). Outstanding shares of Series L Preferred Stock were not included in the computation of diluted EPS for the year ended December 31, 2023 (because they were redeemed in January 2023) and 2022 (because such shares were not redeemable during such period).

EPS for the year-to-date period may differ from the sum of quarterly EPS amounts due to the required method for computing EPS in the respective periods. In addition, EPS is calculated independently for each component and may not be additive due to rounding.

The following table reconciles the numerator and denominator used in computing the Company’s basic and diluted per-share amounts for net loss attributable to common stockholders for the years ended December 31, 2023 and 2022:


	Year Ended December 31,
	2023		2022
	(in thousands, except per share amounts)
Numerator:
Net loss attributable to common stockholders	$	(75,727)	$	(25,785)
Redeemable preferred stock dividends declared on dilutive shares	—		(9)
Diluted net loss attributable to common stockholders	$	(75,727)	$	(25,794)

Denominator:
Basic weighted average shares of Common Stock outstanding	22,723		23,153
Effect of dilutive securities—contingently issuable shares	—		1
Diluted weighted average shares and common stock equivalents outstanding	22,723		23,154

Net loss attributable to common stockholders per share:
Basic	$	(3.33)	$	(1.11)
Diluted	$	(3.33)	$	(1.11)