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Income (loss) Per Common Share | 6 Months Ended
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Jun. 30, 2021
Earnings Per Share [Abstract] |
Income (loss) Per Common Share | 2. Income (loss) Per Common Share
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
|  | (Dollars In Thousands, Except Per Share Amounts) |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 23,670 |  |  | $ | (365 | ) |  | $ | 10,391 |  |  | $ | (19,817 | )
Adjustments for basic net income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dividend requirements on Series E Redeemable Preferred |  |  | (10,213 | ) |  |  | (8,689 | ) |  |  | (19,724 | ) |  |  | (16,996 | )
Dividend requirements on Series B Preferred |  |  | (60 | ) |  |  | (60 | ) |  |  | (120 | ) |  |  | (120 | )
Dividend requirements on Series D Preferred |  |  | (15 | ) |  |  | (15 | ) |  |  | (30 | ) |  |  | (30 | )
Accretion of Series E Redeemable Preferred |  |  | (513 | ) |  |  | (505 | ) |  |  | (1,024 | ) |  |  | (1,009 | )
Net income attributable to participating securities |  |  | (223 | ) |  |  | — |  |  |  | — |  |  |  | — |
Numerator for basic net income (loss) per common share - net income (loss) attributable to common stockholders |  | $ | 12,646 |  |  | $ | (9,634 | ) |  | $ | (10,507 | ) |  | $ | (37,972 | )
Dividends on Series B and Series D Preferred assumed to be converted, if dilutive |  |  | 75 |  |  |  | — |  |  |  | — |  |  |  | — |
Numerator for diluted net income (loss) per common share |  | $ | 12,721 |  |  | $ | (9,634 | ) |  | $ | (10,507 | ) |  | $ | (37,972 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Denominator for basic net income (loss) per common share - weighted- average shares (1) |  |  | 28,485,251 |  |  |  | 28,198,963 |  |  |  | 28,414,863 |  |  |  | 28,187,584 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Convertible preferred stocks |  |  | 916,666 |  |  |  | — |  |  |  | — |  |  |  | — |
Unvested restricted stock and stock units |  |  | 741,784 |  |  |  | — |  |  |  | — |  |  |  |  |
Dilutive potential common shares |  |  | 1,658,450 |  |  |  | — |  |  |  | — |  |  |  | — |
Denominator for diluted net income (loss) per common share - adjusted weighted-average shares |  |  | 30,143,701 |  |  |  | 28,198,963 |  |  |  | 28,414,863 |  |  |  | 28,187,584 |
Basic net income (loss) per common share |  | $ | 0.44 |  |  | $ | (0.34 | ) |  | $ | (0.37 | ) |  | $ | (1.35 | )
Diluted net income (loss) per common share |  | $ | 0.42 |  |  | $ | (0.34 | ) |  | $ | (0.37 | ) |  | $ | (1.35 | )
| (1) | Excludes the weighted-average shares of unvested restricted stock that are contingently issuable.
The following weighted-average shares of securities were not included in the computation of diluted net income (loss) per common share as their effect would have been antidilutive:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Restricted stock and stock units |  |  | — |  |  |  | 1,308,881 |  |  |  | 1,662,514 |  |  |  | 1,257,869 |
Convertible preferred stocks |  |  | — |  |  |  | 916,666 |  |  |  | 916,666 |  |  |  | 916,666 |
Series E Redeemable Preferred - embedded derivative |  |  | 303,646 |  |  |  | 303,646 |  |  |  | 303,646 |  |  |  | 303,646 |
Stock options |  |  | 66,431 |  |  |  | 124,000 |  |  |  | 79,547 |  |  |  | 124,000 |
|  |  | 370,077 |  |  |  | 2,653,193 |  |  |  | 2,962,373 |  |  |  | 2,602,181 |

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