XML 35 R24.htm IDEA: XBRL DOCUMENT

Note 15 - (Loss) Earnings Per Share

3 Months Ended

Mar. 31, 2024

NOTE 15 (LOSS) EARNINGS PER SHARE

The following table sets forth the reconciliation of numerators and denominators for the basic and diluted (loss) earnings per share computation for the three months ended March 31, 2024 and March 31, 2023:

(in thousands, except per share data)	Three months ended March 31,
	2024			2023
Numerator:
(Loss) income from continuing operations	$	(2,115	)	$	27,732
(Less) plus: net (income) loss from continuing operations attributable to noncontrolling interests		(157	)		3
Less: dividends on preferred stock		—			(69	)
Numerator used in calculating basic (loss) earnings per share from continuing operations attributable to common shareholders	$	(2,272	)	$	27,666
Adjustment to add-back dividends on preferred stock		—			69
Adjustment for proportionate interest in Ravix, SNS and SPI's earnings attributable to common stock		—			(50	)
Numerator used in calculating diluted (loss) earnings per share from continuing operations attributable to common shareholders	$	(2,272	)	$	27,685
(Loss) income from discontinued operations		(213	)		107
Numerator used in calculating diluted (loss) earnings per share - net (loss) income attributable to common shareholders	$	(2,485	)	$	27,792

Denominator:
Weighted-average basic shares
Weighted-average common shares outstanding		27,107			24,061
Weighted-average diluted shares
Weighted-average common shares outstanding		27,107			24,061
Effect of potentially dilutive securities (a)
Unvested restricted stock awards		—			789
Warrants		—			1,382
Convertible preferred stock		—			187
Total weighted-average diluted shares		27,107			26,419
Basic (loss) earnings attributable to common shareholders:
Continuing operations	$	(0.08	)	$	1.15
Discontinued operations	$	(0.01	)	$	0.00
Basic (loss) earnings per share - net (loss) income attributable to common shareholders:	$	(0.09	)	$	1.15
Diluted (loss) earnings attributable to common shareholders:
Continuing operations	$	(0.08	)	$	1.05
Discontinued operations	$	(0.01	)	$	0.00
Diluted (loss) earnings per share - net (loss) income attributable to common shareholders	$	(0.09	)	$	1.05

(a)

Potentially dilutive securities consist of unvested restricted stock awards and warrants, calculated using the treasury stock method, and convertible preferred stock, using the if-converted method. Because the Company is reporting a loss from continuing operations attributable to common shareholders for the three months ended March 31, 2024, all potentially dilutive securities outstanding were excluded from the calculation of diluted loss from continuing operations per share since their inclusion would have been anti-dilutive.

Basic (loss) earnings per share excludes dilution and is computed by dividing (loss) income attributable to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted (loss) earnings per share is calculated using weighted-average diluted shares. Weighted-average diluted shares is calculated by adding the effect of potentially dilutive securities to weighted-average common shares outstanding. Potentially dilutive securities are excluded from the diluted (loss) earnings per share computation in loss periods and when the applicable exercise price is greater than the market price on the period end date as their effect would be anti-dilutive.

The following weighted-average potentially dilutive securities are not included in the dilut ed (loss) earnings per share calculations above because they would have had an antidilutive effect on the (loss) earnings per share:

	Three months ended March 31,
	2024		2023
Unvested restricted stock awards		548,964		358,410
Warrants		—		—
Convertible preferred stock		—		—
Total		548,964		358,410