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Net Loss Per Common Share (Tables)

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic

The following table provides a reconciliation of net loss to net loss available to common stockholders and calculation of basic net loss per common share for each of the three and nine months ended September 30, 2021 and 2020 (amounts in thousands, except share and per share amounts):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2021						2020						2021						2020
Net loss			$	(2,339)					$	(19,417)					$	(12,500)					$	(32,704)
Adjustments to reconcile to net loss available to common stockholders
Accumulated dividend on Series B Convertible Preferred Stock			1,574						997						3,613						997
Amortization of beneficial conversion feature			—						31,110						—						31,110
Accretion of increasing-rate dividend feature			—						458						926						458
Total adjustments			1,574						32,565						4,539						32,565
Net loss available to common stockholders			$	(3,913)					$	(51,982)					$	(17,039)					$	(65,269)
Weighted average common shares outstanding			110,717,073						108,493,208						110,136,517						108,222,419
Basic net loss per common share			$	(0.04)					$	(0.48)					$	(0.15)					$	(0.60)

Schedule of Earnings Per Share, Diluted

The following table sets forth the computation of diluted net loss per common share (in thousands, except share and per share amounts):

			Three Months Ended September 30,												Nine Months Ended September 30,
			2021						2020						2021						2020
Net loss available to common stockholders			$	(3,913)					$	(51,982)					$	(17,039)					$	(65,269)
Dividends on Series B Convertible Preferred Stock			1,574						32,565						4,539						32,565
Numerator			$	(3,913)					$	(51,982)					$	(17,039)					$	(65,269)
Weighted average shares outstanding			110,717,073						108,493,208						110,136,517						108,222,419
Potential common shares (a)			30,658,193						28,625,684						30,185,813						11,032,820
Weighted average shares outstanding adjusted for potential common shares			110,717,073						108,493,208						110,136,517						108,222,419
Diluted net loss per common share			$	(0.04)					$	(0.48)					$	(0.15)					$	(0.60)

(a) Potential common shares reflects hypothetical transactions involving convertible securities and share-based payment awards using the if-converted and treasury stock methods, respectively. The effect of each of these adjustments on the calculation is presented in the table below:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2021						2020						2021						2020
Series B Convertible Preferred Stock			27,027,252						25,691,700						26,497,570						8,626,410
Restricted stock awards			974,687						1,203,853						1,287,635						1,281,635
Restricted stock unit awards			1,840,483						919,233						1,500,674						359,103
Outstanding stock options			805,437						772,967						875,714						739,937
Performance stock unit awards			10,334						37,931						24,220						25,735
Potential common shares			30,658,193						28,625,684						30,185,813						11,032,820

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The effect of each of these adjustments on the calculation is presented in the table below:

			Three Months Ended September 30,												Nine Months Ended September 30,
			2021						2020						2021						2020
Series B Convertible Preferred Stock			27,027,252						25,691,700						26,497,570						8,626,410
Restricted stock awards			974,687						1,203,853						1,287,635						1,281,635
Restricted stock unit awards			1,840,483						919,233						1,500,674						359,103
Outstanding stock options			805,437						772,967						875,714						739,937
Performance stock unit awards			10,334						37,931						24,220						25,735
Potential common shares			30,658,193						28,625,684						30,185,813						11,032,820

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Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

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