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Earnings Per Share (Tables) | 6 Months Ended
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Jun. 30, 2021
Earnings Per Share [Abstract] |
Schedule of Basic and Diluted Earnings Per Share | The following table presents the basic and diluted earnings per share calculations for the three and six months ended June 30, 2021 and 2020:
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2021 |  | 2020 |  |  | 2021 |  | 2020 |
|  | (In thousands, except per share data) |  |  | (In thousands, except per share data) |
Basic EPS: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 9,453 |  | $ | 2,141 |  |  | $ | 12,849 |  | $ | 4,720 |
Less: deemed dividends on preferred stock |  |  | — |  |  | 48,955 |  |  |  | — |  |  | 48,955 |
Net income attributable to common stockholders |  | $ | 9,453 |  | $ | (46,814 | ) |  | $ | 12,849 |  | $ | (44,235 | )
Less: undistributed earnings attributable to participating securities |  |  | 3,571 |  |  | — |  |  |  | 4,854 |  |  | — |
Net earnings attributable to common stockholders |  | $ | 5,882 |  | $ | (46,814 | ) |  | $ | 7,995 |  | $ | (44,235 | )
Weighted average common shares outstanding |  |  | 20,087 |  |  | 20,087 |  |  |  | 20,087 |  |  | 20,087 |
Basic earnings per common share |  | $ | 0.29 |  | $ | (2.33 | ) |  | $ | 0.40 |  | $ | (2.20 | )
Diluted EPS: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to common stockholders |  | $ | 9,453 |  | $ | (46,814 | ) |  | $ | 12,849 |  | $ | (44,235 | )
Weighted average common shares outstanding |  |  | 20,087 |  |  | 20,087 |  |  |  | 20,087 |  |  | 20,087 |
Add dilutive effects for assumed conversion of Series A preferred stock |  |  | 11,688 |  |  | — |  |  |  | 11,688 |  |  | — |
Add dilutive effects for warrants |  |  | 1,985 |  |  | — |  |  |  | 1,786 |  |  | — |
Add dilutive effects for stock options |  |  | 3 |  |  | — |  |  |  | 2 |  |  | — |
Add dilutive effects of unvested restricted stock awards |  |  | 197 |  |  | — |  |  |  | 121 |  |  | — |
Weighted average diluted common shares outstanding |  |  | 33,960 |  |  | 20,087 |  |  |  | 33,684 |  |  | 20,087 |
Diluted income per common share |  | $ | 0.28 |  | $ | (2.33 | ) |  | $ | 0.38 |  | $ | (2.20 | )
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following table sets forth the number of shares excluded from the computation of diluted loss per share, as their inclusion would have been anti-dilutive (in thousands):
|  | Three Months Ended June 30, |  |  | Six Months Ended June 30, |
|  | 2021 |  | 2020 |  |  | 2021 |  | 2020 |
Shares underlying Series A Convertible Preferred Stock |  |  | — |  |  | 11,688 |  |  |  | — |  |  | 11,688 |
Shares underlying warrants |  |  | — |  |  | 3,013 |  |  |  | — |  |  | 3,013 |
Stock options |  | 773 |  |  | 773 |  |  |  | 773 |  |  | 773 |
Unvested restricted stock awards |  |  | — |  | NA |  |  |  | — |  | NA |
Share equivalents excluded from EPS |  |  | 773 |  |  | 15,474 |  |  |  | 773 |  |  | 15,474 |

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- Definition 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257 + Details
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