v3.24.0.1

Net Income (Loss) Per Share from Continuing Operations | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share from Continuing Operations | Net Income (Loss) Per Share from Continuing Operations Net income (loss) per share from continuing operations was computed as follows:
| Year Ended December 31,
| 2023 |  | 2022 |  | 2021
| (In thousands, except share and per share data)
Computation of Net income (loss) per share from continuing operations - basic: |  |  |  |  |
Net income (loss) from continuing operations attributable to Enovis Corporation(1) | $ | (54,369) |  |  | $ | (38,756) |  |  | $ | (103,305) |
Weighted-average shares of Common stock outstanding – basic | 54,494,823 |  |  | 54,065,420 |  |  | 51,141,210 |
Net income (loss) per share from continuing operations – basic | $ | (1.00) |  |  | $ | (0.72) |  |  | $ | (2.02) |
Computation of Net income (loss) per share from continuing operations - diluted: |  |  |  |  |
Net income (loss) from continuing operations attributable to Enovis Corporation(1) | $ | (54,369) |  |  | $ | (38,756) |  |  | $ | (103,305) |
Weighted-average shares of Common stock outstanding – basic | 54,494,823 |  |  | 54,065,420 |  |  | 51,141,210 |
Net effect of potentially dilutive securities - stock options and restricted stock units | — |  |  | — |  |  | — |
Weighted-average shares of Common stock outstanding – diluted | 54,494,823 |  |  | 54,065,420 |  |  | 51,141,210 |
Net income (loss) per share from continuing operations – diluted | $ | (1.00) |  |  | $ | (0.72) |  |  | $ | (2.02) |
(1) Net income (loss) from continuing operations attributable to Enovis Corporation for the respective periods is calculated using Net income (loss) from continuing operations less the net income attributable to noncontrolling interest from continuing operations, net of taxes. For the years ended December 31, 2021, the weighted-average shares of common stock outstanding - basic included the impact of 6.1 million shares, as adjusted for the reverse stock split, for the actual or potential issuance of shares from tangible equity unit purchase contracts. In January 2022, the remaining tangible equity unit purchase contracts were converted into approximately 1.7 million shares of the Company’s common stock, as adjusted for the reverse stock split. All the issued shares are included in the common stock issued and outstanding as of December 31, 2022 and December 31, 2023. See Note 14, “Equity”, for details. For the year ended December 31, 2021, conversions of the Company’s tangible equity units resulted in the issuance of approximately 4.4 million shares, as adjusted for the reverse stock split, of common stock. All issuances of common stock related to the tangible equity units were converted at the minimum settlement rate of 4.0000 shares of common stock for each purchase contract as a result of the Company’s share price. The weighted-average computation of the dilutive effect of potentially issuable shares of common stock under the treasury stock method for the years ended December 31, 2023, 2022 and 2021 excludes 1.2 million, 1.1 million, and 0.3 million outstanding stock-based compensation awards, respectively, as their inclusion would be anti-dilutive.

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