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Net Loss Per Common Share (Tables)

9 Months Ended

Sep. 30, 2022

Earnings Per Share [Abstract]

Basic Net Loss Per Common Share

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,
			2022						2021						2022						2021
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 Stock			1,670						1,574						4,884						3,613
Accretion of increasing-rate dividend feature			—						—						—						926
Total adjustments			1,670						1,574						4,884						4,539
Net loss available to common stockholders			$	(10,096)					$	(3,913)					$	(34,667)					$	(17,039)
Weighted average common shares outstanding			113,448,251						110,717,073						112,650,713						110,136,517
Basic net loss per common share			$	(0.09)					$	(0.04)					$	(0.31)					$	(0.15)

Diluted Net Loss Per Common Share

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,
			2022						2021						2022						2021
Net loss available to common stockholders			$	(10,096)					$	(3,913)					$	(34,667)					$	(17,039)
Adjustments:
Dividends on Series B Convertible Preferred Stock			1,670						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 outstanding			113,448,251						110,717,073						112,650,713						110,136,517
Adjustments
Potential common shares			29,269,481						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 shares			113,448,251						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,
			2022						2021						2022						2021
Series B Convertible Preferred Stock			28,685,739						27,027,252						27,850,916						26,497,570
Restricted stock unit awards			474,355						1,840,483						574,507						1,500,674
Restricted stock awards			22,327						974,687						293,778						1,287,635
Outstanding stock options			22,528						805,437						97,190						875,714
Performance stock unit awards			59,996						10,334						40,141						24,220
Employee Stock Purchase Plan			4,536						—						1,517						—
Potential common shares			29,269,481						30,658,193						28,858,049						30,185,813

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

			Three Months Ended September 30,												Nine Months Ended September 30,
			2022						2021						2022						2021
Series B Convertible Preferred Stock			28,685,739						27,027,252						27,850,916						26,497,570
Restricted stock unit awards			474,355						1,840,483						574,507						1,500,674
Restricted stock awards			22,327						974,687						293,778						1,287,635
Outstanding stock options			22,528						805,437						97,190						875,714
Performance stock unit awards			59,996						10,334						40,141						24,220
Employee Stock Purchase Plan			4,536						—						1,517						—
Potential common shares			29,269,481						30,658,193						28,858,049						30,185,813

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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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Tabular disclosure of the effect of income (loss) on basic earnings per share.

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Tabular disclosure of the effect of income (loss) on an entity's diluted earnings per share.

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