Net (Loss) Income Per Share

9 Months Ended

Sep. 30, 2024

Note 14. Net (Loss) Income Per Share

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 potentially dilutive securities outstanding during the three and nine months ended September 30, 2024, had an anti-dilutive effect and were therefore not included in the calculation of diluted net (loss) income per share. Basic and diluted net (loss) income per share was calculated as follows:


	Three Months Ended September 30,					Nine Months Ended September 30,
	2024			2023		2024			2023
Basic net (loss) income per share	$	(0.06	)	$	0.08	$	(0.07	)	$	0.16
Diluted net (loss) income per share	$	(0.06	)	$	0.07	$	(0.07	)	$	0.15
Numerator:
Net (loss) income (in thousands)	$	(8,860	)	$	10,773	$	(9,907	)	$	22,480
Denominator:
Weighted average number of shares outstanding - basic		144,096,312			143,231,707		143,851,357			144,392,463
Add stock options to purchase shares and restricted stock units		—			1,501,650		—			2,000,533
Weighted average number of shares outstanding - diluted		144,096,312			144,733,357		143,851,357			146,392,996

For the three months ended September 30, 2024 and 2023, 3,312,675 and 4,739,037 stock options and RSUs were excluded from the calculation of diluted net (loss) income per share, respectively, because their effect was anti-dilutive. For the nine months ended September 30, 2024 and 2023, 3,244,309 and 4,754,689 stock options and RSUs were excluded from the calculation of diluted net (loss) income per share, respectively, because their effect was anti-dilutive.