Loss per Common Share

3 Months Ended

Mar. 31, 2024

The following tables set forth the computation of the Company's basic and diluted loss per common share:


	Three Months Ended March 31,
(in thousands except per share amounts)		2024		2023
Numerator:
Net income (loss)		$	5,193	$	(506)
Less: Dividends and accretion attributable to redeemable senior preferred stockholders		(12,662)		(11,295)
Less: Return on redeemable NCI in consolidated subsidiary		(581)		—

Net loss attributable to common stockholders		$	(8,050)	$	(11,801)
Denominator:
Basic and diluted:
Weighted-average common shares outstanding(1)		78,021		78,133
Loss per common share		$	(0.10)	$	(0.15)

(1)The weighted-average common shares outstanding includes 1,803,841 warrants (refer to Note 9. Redeemable Senior Preferred Stock and Warrants).

For the three months ended March 31, 2024 and 2023, all potentially dilutive securities were anti-dilutive, so diluted net loss per share was equivalent to basic net loss per share. Potentially anti-dilutive securities that were excluded from the Company's loss per common share are as follows:


	Three Months Ended March 31,
(in thousands)		2024	2023
Outstanding warrants on Common Stock(1)		—	3,557
Outstanding options and warrants issued to adviser(2)		—	600
Restricted stock awards(3)		1,078	2,245

Outstanding stock option awards(3)		864	952
Total		1,942	7,354

(1)The warrants were issued in 2018 and were exercisable at $11.50 per share. These warrants expired on August 24, 2023.

(2)The warrants were issued in 2018 and were exercisable at $12.00 per share. These warrants expired on August 24, 2023.

(3)Granted under the 2018 Plan.