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Net Income (Loss) Per Share | 6 Months Ended
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Jun. 30, 2022
Earnings Per Share [Abstract] |
Earnings Per Share | NET INCOME (LOSS) PER SHARE Basic net income (loss) per share is computed by dividing net income (loss) available to common stockholders by the weighted average number of the Company’s common stock outstanding during the period. Diluted net income (loss) per share reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted into common stock. For the three and six months ended June 30, 2022, there were 1,991,864 and 992,382 common stock equivalents, respectively, related to equity-based awards that were not included in the diluted earnings per share calculation as the shares would be antidilutive. Similarly, 1,553,030 and 1,558,030 common stock equivalents were excluded in the diluted earnings per share calculation for the three and six months ended June 30, 2021, respectively.
| Three months ended June 30, |  | Six months ended June 30,
In thousands except per share amounts | 2022 |  | 2021 |  | 2022 |  | 2021 |  |
Net income (loss) available to common stockholders | $ | (77,434) |  |  | $ | 32,146 |  |  | $ | (69,752) |  |  | $ | 34,206 |  |  |
Weighted average shares: |  |  |  |  |  |  |  |  |
Basic | 278,040 |  |  | 249,066 |  |  | 268,884 |  |  | 245,253 |  |  |
Effect of stock-based compensation plans | — |  |  | 3,066 |  |  | — |  |  | 3,240 |  |  |
Diluted | 278,040 |  |  | 252,132 |  |  | 268,884 |  |  | 248,493 |  |  |
Income (loss) per share: |  |  |  |  |  |  |  |  |
Basic | $ | (0.28) |  |  | $ | 0.13 |  |  | $ | (0.26) |  |  | $ | 0.14 |  |  |
Diluted | $ | (0.28) |  |  | $ | 0.13 |  |  | $ | (0.26) |  |  | $ | 0.14 |  |  |
On March 18, 2022, the Company completed a $100.0 million “at the market” offering of its common stock, par value $0.01 per share (the “Equity Offering”). The Equity Offering was conducted pursuant to an ATM Equity Offering Sales Agreement (the “Sales Agreement”), entered into on April 23, 2020 between the Company and BofA Securities, Inc. and RBC Capital Markets, LLC as sales agents. The Company sold a total of 22,053,275 shares of its common stock in the Equity Offering at an average price of $4.53 per share, raising net proceeds (after sales commissions) of $98.0 million. Proceeds from the Equity Offering were used to repay outstanding amounts under the RCF.

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