Income (Loss) Per Common Share

9 Months Ended

Sep. 30, 2022

2. Income (Loss) Per Common Share


	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2022		2021			2022		2021
	(In Thousands, Except Per Share Amounts)
Numerator:
Net income (loss)	$	2,312	$	(8,928	)	$	164,477	$	1,463
Adjustments for basic income (loss) per common share:
Dividend requirements on Series E Redeemable Preferred		—		(10,190	)		—		(29,914	)
Deemed dividend on Series E and Series F Redeemable Preferred		—		(231,812	)		—		(231,812	)
Dividend requirements on Series B Preferred		—		(60	)		—		(180	)
Dividend requirements on Series D Preferred		—		(15	)		—		(45	)
Accretion of Series E Redeemable Preferred		—		(499	)		—		(1,523	)
Numerator for basic and diluted net income (loss) per common share	$	2,312	$	(251,504	)	$	164,477	$	(262,011	)

Denominator:
Denominator for basic net income (loss) per common share - adjusted weighted-average shares (1)		84,187		39,352			86,929		37,752
Effect of dilutive securities:
Unvested restricted stock and stock units		1,328		—			1,352		—
Dilutive potential common shares		1,328		—			1,352		—
Denominator for diluted net income (loss) per common share - adjusted weighted-average shares		85,515		39,352			88,281		37,752

Basic net income (loss) per common share	$	0.03	$	(6.39	)	$	1.89	$	(6.94	)

Diluted net income (loss) per common share	$	0.03	$	(6.39	)	$	1.86	$	(6.94	)

(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				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Restricted stock and stock units		146,537		2,426,419		76,204		2,211,674
Convertible preferred stocks		—		1,191,666		—		1,191,666
Stock options		13,000		64,318		13,000		64,318
		159,537		3,682,403		89,204		3,467,658