Net Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2023

Net Loss Per Common Share

The following table summarizes the computation of basic and diluted net loss per common share.


	Three Months Ended March 31,
	2023		2022
Numerator:
Net loss	$	(10,175)	$	(3,302)
Adjustment for preferred stock cumulative dividends and deemed dividends	(3,051)		(2,538)



Numerator for basic and diluted net loss per common share	$	(13,226)	$	(5,840)

Denominator:
Weighted average common shares outstanding	43,847		43,308
Adjustment for participating securities	(742)		(608)
Adjustment for warrants outstanding (1)	2,204		1,894




Shares used to calculate basic and diluted net loss per share	45,309		44,594








Basic and diluted net loss per common share	$	(0.29)	$	(0.13)
Cash dividends declared per common share	$	—	$	—

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(1) Outstanding warrants that are exercisable at an exercise price of $0.01 per share, are included in shares outstanding for calculation of basic earnings per share (see Note 15).

The following table presents securities that could be potentially dilutive in the future that were excluded from the calculation of diluted net loss per common share because they had an anti-dilutive effect.


	Three Months Ended March 31,
	2023	2022
Options	516	600
2019 Warrants	1,500	1,500

	2,016	2,100

Stock options excluded from the calculations of diluted net loss per share had a per share exercise price ranging from $7.93 to $25.16 for the three and three months ended March 31, 2023. The 2019 Warrants excluded from the calculation of diluted net loss per share had a per share exercise price of $11.49.