Net Income (Loss) Per Share

9 Months Ended

11 Months Ended

Sep. 30, 2021

Dec. 31, 2020

Note 14. Net Income (Loss) Per Share

For the period from January 1, 2020 through January 31, 2020 (Predecessor), the Company had Class B options, Class C options, and Class C profits interests issued under the Predecessor Plan. The potentially dilutive securities outstanding during this period had an anti-dilutive effect and were therefore not included in the calculation of diluted net (loss) per unit for the period. For Successor periods, basic weighted-average shares outstanding excludes nonvested restricted stock. Diluted weighted average shares outstanding, is similar to basic weighted-average shares outstanding, except that the weighted-average number of shares is increased to include the number of additional common shares that would have been outstanding if the potentially dilutive common share had been issued, including the dilutive impact of nonvested restricted stock

. The Company did not have any potentially dilutive securities during the period from February 1, 2020 through

September

30, 2020 (Successor). Basic and diluted net income (loss) per share was calculated as follows:


	Three-Month Period					Nine-Month Period
	Successor										Predecessor
	Three Months Ended September 30, 2021		Three Months Ended September 30, 2020			Nine Months Ended September 30, 2021		Period from February 1, 2020 through September 30, 2020			Period from January 1, 2020 through January 31, 2020

Basic net income (loss) per share	$	0.11	$	(0.03	)	$	0.00	$	(0.32	)		n/a
Diluted net income (loss) per share	$	0.11	$	(0.03	)	$	0.00	$	(0.32	)		n/a
Numerator:
Net income (loss) (in thousands)	$	16,285	$	(3,452	)	$	666	$	(41,632	)		n/a
Denominator:
Weighted average number of shares outstanding - basic		149,943,998		130,000,000			137,232,289		130,000,000			n/a
Add options and restricted stock units to purchase units		2,456,421		—			938,199		—			n/a

Three-Month Period

Nine-Month Period

Successor

Predecessor

Three Months
Ended
September 30,
2021

Three Months
Ended
September 30,
2020

Nine Months
Ended
September 30,
2021

Period from
February 1,
2020 through
September 30,
2020

Period from
January 1,
2020 through
January 31,
2020

Weighted average number of shares outstanding - diluted

152,400,419

130,000,000

138,170,488

130,000,000

n/a

Basic net (loss) per unit

n/a

(0.24

)

Diluted net (loss) per unit

n/a

(0.24

)

Numerator:

Net (loss)

n/a

(36,530

)

Denominator:

n/a

Weighted

average

units outstanding - basic

n/a

149,686,460

Add options and restricted stock units to purchase units

n/a

—

Weighted

average units outstanding - diluted

n/a

149,686,460

15.	NET INCOME (LOSS) PER SHARE

Basic and diluted net income (loss) per share was calculated as follows (in thousands, except unit,

per-unit,

share, and

per-share

amounts):


	Predecessor					Successor
	For the Year Ended December 31, 2019		Period from January 1, 2020 through January 31, 2020			Period from February 1, 2020 through December 31, 2020
Basic and diluted net income (loss) per share	$	n/a	$	n/a		$	(0.37	)
Numerator:
Net income (loss)	$	n/a	$	n/a		$	(47,492	)
Denominator:
Weighted-average common shares outstanding used in computing basic and diluted net income (loss) per share		n/a		n/a			130,000,000

Basic net income (loss) per unit	$	0.23	$	(0.24	)	$	n/a
Diluted net income (loss) per unit	$	0.21	$	(0.24	)	$	n/a
Numerator:
Net income (loss)	$	34,250	$	(36,560	)	$	n/a
Denominator
Weighted-average common shares outstanding used in computing basic net income (loss) per unit		149,686,460		149,686,460			n/a
Add options and restricted stock units to purchase units		14,193,306		—			n/a

Weighted-average shares used in computing diluted net income (loss) per unit		163,879,766		149,686,460			n/a