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EARNINGS PER SHARE
 12 Months Ended
Dec. 31, 2021
Earnings Per Share [Abstract]  
Earnings Per Share

11. EARNINGS PER SHARE

 

The following table sets forth the calculation of basic and diluted earnings per share:

 

 

 

For the years ended

 

 

 

December 31, 2021

 

 

December 31, 2020

 

 

December 31, 2019

 

Numerator:

 

 

 

 

 

 

 

 

 

Net (loss) income

 

$

(27,139

)

 

$

32,857

 

 

$

561

 

Denominator:

 

 

 

 

 

 

 

 

 

Basic and diluted weighted average common shares

 

 

89,959,993

 

 

 

67,673,884

 

 

 

67,673,884

 

(Loss) earnings per share:

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.30

)

 

$

0.49

 

 

$

0.01

 

Diluted

 

$

(0.30

)

 

$

0.49

 

 

$

0.01

 

 

The following outstanding shares of common stock equivalents were excluded from the calculation of diluted earnings per share due to the anti-dilutive effect such shares would have on net loss per common share.

 

 

 

For the years ended

 

 

 

December 31, 2021

 

 

December 31, 2020

 

 

December 31, 2019

 

Anti-dilutive securities excluded from calculation of
   diluted EPS:

 

 

 

 

 

 

 

 

 

Warrants

 

 

14,666,644

 

 

 

—

 

 

 

—

 

Stock options

 

 

1,386,974

 

 

 

—

 

 

 

—

 

Restricted stock units

 

 

656,485

 

 

 

—

 

 

 

—

 

Earn-out shares

 

 

2,187,500

 

 

 

—

 

 

 

—

 

Total anti-dilutive securities

 

 

18,897,603

 

 

 

—

 

 

 

—