Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2023

Components of Basic and Diluted Earnings Per Share

The components of basic and diluted earnings (loss) per share are as follows (in thousands, except share and per share data):


	Three months ended September 30,
	2023				2022
	Basic		Diluted		Basic		Diluted
Numerator for basic and diluted net (loss) income per common share:
Net (loss) income	$	(30,971)	$	(30,971)	$	18,185	$	18,185
Less: Net income available to participating securities (1)	—		—		(4)		(4)
Plus: 1.75% Convertible Notes interest expense (after-tax)	—		—		—		—
Net (loss) income available to the Company’s common shareholders	$	(30,971)	$	(30,971)	$	18,181	$	18,181
Denominator:
Basic weighted-average outstanding shares of common stock	46,062,097		46,062,097		46,871,897		46,871,897
Diluted effect of:
Equity incentive plans	—		—		—		—
Convertible debt	—		—		—		—
Diluted weighted-average outstanding shares of common stock	46,062,097		46,062,097		46,871,897		46,871,897

Net (loss) income per share	$	(0.67)	$	(0.67)	$	0.39	$	0.39

(1)Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).


	Nine months ended September 30,
	2023				2022
	Basic		Diluted		Basic		Diluted
Numerator for basic and diluted net loss per common share:
Net loss	$	(21,919)	$	(21,919)	$	(3,714)	$	(3,714)
Less: Net income available to participating securities (1)	—		—		—		—
Plus: 1.75% Convertible Notes interest expense (after-tax)	—		—		—		—
Net loss available to the Company’s common shareholders	$	(21,919)	$	(21,919)	$	(3,714)	$	(3,714)
Denominator:
Basic weighted-average outstanding shares of common stock	46,612,660		46,612,660		46,967,671		46,967,671
Diluted effect of:
Equity incentive plans	—		—		—		—
Convertible debt	—		—		—		—
Diluted weighted-average outstanding shares of common stock	46,612,660		46,612,660		46,967,671		46,967,671

Net loss per share	$	(0.47)	$	(0.47)	$	(0.08)	$	(0.08)

(1)Represents unvested share-based payment awards that contain certain non-forfeitable rights to dividends or dividend equivalents (whether paid or unpaid).