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Net Loss Per Common Share
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Net Loss Per Common Share Net Loss Per Common Share
Net loss per common share is calculated using two methods: basic and diluted.
Basic Net Loss Per Common Share
Basic net loss per common share is calculated as net loss available to common stockholders divided by weighted average common shares outstanding. Net loss available to common stockholders is calculated as net loss less (i) dividends accumulated on the Company’s Series B Convertible Preferred Stock during the period, and (ii) periodic accretion of the increasing-rate dividend feature.
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, 2022 and 2021 (in thousands, except share and per share amounts):
 Three Months Ended September 30,Nine Months Ended September 30,
 2022202120222021
Net loss$(8,426)$(2,339)$(29,783)$(12,500)
Adjustments to reconcile to net loss available to common stockholders
Accumulated dividend on Series B Preferred Stock1,670 1,574 4,8843,613
Accretion of increasing-rate dividend feature— — — 926
Total adjustments1,670 1,574 4,884 4,539 
Net loss available to common stockholders$(10,096)$(3,913)$(34,667)$(17,039)
Weighted average common shares outstanding113,448,251 110,717,073 112,650,713110,136,517
Basic net loss per common share$(0.09)$(0.04)$(0.31)$(0.15)
Diluted Net Loss Per Common Share
Diluted net loss per common share is calculated as net loss available to common stockholders, adjusted for dividends on convertible preferred stock (to the extent conversion would be dilutive), divided by weighted average common shares outstanding plus potential common shares. The calculation of potential common shares considers incremental shares resulting from certain transactions, including the exercise of stock options and the issuance of restricted stock, using the treasury stock method, as well as the hypothetical conversion of the Company’s Series B Convertible Preferred Stock using the if-converted method. The treasury stock method assumes that proceeds from the transaction are used to purchase common stock at the average market price throughout the period. The if-converted method adds back periodic accrued or deemed dividends on the Company’s Series B Convertible Preferred Stock, and assumes conversion as of the beginning of the period.
Each individual transaction is assessed for its dilutive effect on net loss per common share. To the extent that the transaction is antidilutive or does not reduce net loss per common share, the effect is excluded from the calculation.
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,
 2022202120222021
Net loss available to common stockholders$(10,096)$(3,913)$(34,667)$(17,039)
Adjustments:
Dividends on Series B Convertible Preferred Stock1,670 1,574 4,884 4,539 
Less: antidilutive adjustments(1,670)(1,574)(4,884)(4,539)
Total adjustments— — — — 
Numerator$(10,096)$(3,913)$(34,667)$(17,039)
Weighted average shares outstanding113,448,251 110,717,073 112,650,713 110,136,517 
Adjustments
Potential common shares29,269,481 30,658,193 28,858,049 30,185,813 
Less: antidilutive potential common shares (a)(29,269,481)(30,658,193)(28,858,049)(30,185,813)
Total adjustments— — — — 
Weighted average shares outstanding adjusted for potential common shares113,448,251 110,717,073 112,650,713 110,136,517 
Diluted net loss per common share$(0.09)$(0.04)$(0.31)$(0.15)
(a) Weighted average common shares outstanding for the calculation of diluted net loss per common share does not include the following adjustments for potential common shares below because their effects were determined to be antidilutive for the periods presented.
Three Months Ended September 30,Nine Months Ended September 30,
2022202120222021
Series B Convertible Preferred Stock28,685,739 27,027,252 27,850,916 26,497,570 
Restricted stock unit awards474,355 1,840,483 574,507 1,500,674 
Restricted stock awards22,327 974,687 293,778 1,287,635 
Outstanding stock options22,528 805,437 97,190 875,714 
Performance stock unit awards59,996 10,334 40,141 24,220 
Employee Stock Purchase Plan4,536 — 1,517 — 
Potential common shares29,269,481 30,658,193 28,858,049 30,185,813