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Income (Loss) Per Common Share | 6 Months Ended
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Jun. 30, 2022
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, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
|  | (In Thousands, Except Per Share Amounts) |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) |  | $ | 103,399 |  |  | $ | 23,670 |  |  | $ | 162,165 |  |  | $ | 10,391 |
Adjustments for basic income (loss) per common share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Dividend requirements on Series E Redeemable Preferred |  |  | — |  |  |  | (10,213 | ) |  |  | — |  |  |  | (19,724 | )
Dividend requirements on Series B Preferred |  |  | — |  |  |  | (60 | ) |  |  | — |  |  |  | (120 | )
Dividend requirements on Series D Preferred |  |  | — |  |  |  | (15 | ) |  |  | — |  |  |  | (30 | )
Accretion of Series E Redeemable Preferred |  |  | — |  |  |  | (513 | ) |  |  | — |  |  |  | (1,024 | )
Net income attributable to participating securities |  |  | — |  |  |  | (223 | ) |  |  | — |  |  |  | — |
Numerator for basic net income (loss) per common share - net income (loss) attributable to common stockholders |  | $ | 103,399 |  |  | $ | 12,646 |  |  | $ | 162,165 |  |  | $ | (10,507 | )
Dividends on Series B and Series D Preferred assumed to be converted, if dilutive |  |  | — |  |  |  | 75 |  |  |  | — |  |  |  | — |
Numerator for diluted net income (loss) per common share |  | $ | 103,399 |  |  | $ | 12,721 |  |  | $ | 162,165 |  |  | $ | (10,507 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Denominator for basic net income (loss) per common share - adjusted weighted-average shares (1) |  |  | 88,181 |  |  |  | 37,031 |  |  |  | 88,301 |  |  |  | 37,162 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Convertible preferred stocks |  |  | — |  |  |  | 1,192 |  |  |  | — |  |  |  | — |
Unvested restricted stock and stock units |  |  | 1,383 |  |  |  | 964 |  |  |  | 1,364 |  |  |  | — |
Dilutive potential common shares |  |  | 1,383 |  |  |  | 2,156 |  |  |  | 1,364 |  |  |  | — |
Denominator for diluted net income (loss) per common share - adjusted weighted-average shares |  |  | 89,564 |  |  |  | 39,187 |  |  |  | 89,665 |  |  |  | 37,162 |
Basic net income (loss) per common share |  | $ | 1.17 |  |  | $ | 0.34 |  |  | $ | 1.84 |  |  | $ | (0.28 | )
Diluted net income (loss) per common share |  | $ | 1.15 |  |  | $ | 0.32 |  |  | $ | 1.81 |  |  | $ | (0.28 | )
| (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 loss per common share as their effect would have been antidilutive:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Restricted stock and stock units |  |  | 82,072 |  |  |  | — |  |  |  | 41,037 |  |  |  | 2,142,335 |
Convertible preferred stocks |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,191,666 |
Series E Redeemable Preferred - embedded derivative |  |  | — |  |  |  | 303,646 |  |  |  | — |  |  |  | 303,646 |
Stock options |  |  | 13,000 |  |  |  | 81,274 |  |  |  | 13,000 |  |  |  | 94,390 |
|  |  | 95,072 |  |  |  | 384,920 |  |  |  | 54,037 |  |  |  | 3,732,037 |

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