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Net Loss Per Share | 9 Months Ended
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Sep. 30, 2024
Net Loss Per Share |
Net Loss Per Share | Note 5. Net Loss Per Share We calculate basic and diluted net loss per share using the weighted average number of common shares outstanding during the periods presented. In periods of a net loss position, basic and diluted weighted average common shares are the same. For the diluted earnings per share calculation, we adjust the weighted average number of common shares outstanding to include dilutive stock options, unvested restricted stock units and shares associated with the conversion of the Company’s 0.75% Convertible Senior Notes due in 2026 (the “2026 Senior Notes”), the Company’s 3.0% Convertible Senior Notes due in 2025 (the “2025 Senior Notes” and together with the 2026 Senior Notes, the “Convertible Senior Notes”) and the Company’s 4.0% Series C Convertible Preferred Stock (“Series C Preferred Stock”) outstanding during the periods, using the treasury stock method or the “if converted” method as applicable. ​ The following shows the amounts used in computing net loss per share (in thousands except per share data):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended | ​
​ | ​ | ​ | September 30, | ​ | ​ | September 30, | ​
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023 |
Net income (loss) | ​ | $ | 805 | ​ | $ | (13,269) | ​ | $ | (96,079) | ​ | $ | (37,198) | ​
Paid-in-kind dividend on Series C Preferred Stock | ​ |  | (2,000) | ​ |  | (2,000) | ​ |  | (6,000) | ​ |  | (6,000) | ​
Net loss attributable to common shareholders | ​ | $ | (1,195) | ​ | $ | (15,269) | ​ | $ | (102,079) | ​ | $ | (43,198) | ​
Weighted average common shares issued and outstanding - basic and diluted | ​ | ​ | 49,417,757 | ​ | ​ | 48,904,102 | ​ | ​ | 49,261,717 | ​ | ​ | 48,660,646 | ​
Basic and diluted net loss per share | ​ | $ | (0.02) | ​ | $ | (0.31) | ​ | $ | (2.07) | ​ | $ | (0.89) | ​
​ 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: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended | ​
​ | ​ | September 30, | ​ | September 30, | ​
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023 |
Stock options |  | 21,397 |  | 2,149,221 |  | 1,097,894 |  | 2,735,008 | ​
Restricted stock units | ​ | 1,072,117 | ​ | 1,073,840 | ​ | 1,072,117 | ​ | 1,073,840 | ​
Series C convertible preferred stock | ​ | 6,073,145 | ​ | 5,836,173 | ​ | 6,073,145 | ​ | 5,836,173 | ​
Conversion of 2026 Senior Notes | ​ | 1,583,280 | ​ | 3,156,483 | ​ | 1,583,280 | ​ | 3,156,483 | ​
Conversion of 2025 Senior Notes | ​ | 599,953 | ​ | 599,954 | ​ | 599,953 | ​ | 599,954 | ​
​ |  | 9,349,892 |  | 12,815,671 |  | 10,426,389 |  | 13,401,458 | ​
​

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