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Earnings per Share | 12 Months Ended
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Dec. 31, 2023
Earnings Per Share [Abstract] |
Earnings per Share | Earnings per Share Basic earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares outstanding during the period. Diluted earnings per share is computed by dividing net income (loss) by the sum of (1) the weighted-average number of shares of common stock outstanding during the period, and (2) the dilutive effect of assumed conversion of equity awards using the treasury stock method. With respect to the number of weighted-average shares outstanding (denominator), diluted shares reflects: (i) the exercise of options to acquire common stock to the extent that the options’ exercise prices are less than the average market price of common stock during the period and (ii) the pro forma vesting of restricted stock units. The following table sets forth the computations of basic and diluted earnings (loss) per share (in thousands except share data):
| For the year ended December 31,
| 2023 |  | 2022 |  | 2021
Basic earnings (loss) per share: |  |  |  |  |
Numerator: |  |  |  |  |
Net income (loss) attributable to Mistras Group, Inc. | $ | (17,453) |  |  | $ | 6,499 |  |  | $ | 3,860 |
Denominator |  |  |  |  |
Weighted average common shares outstanding | 30,330 |  |  | 29,901 |  |  | 29,572 |
Basic earnings (loss) per share | $ | (0.58) |  |  | $ | 0.22 |  |  | $ | 0.13 |
Diluted earnings (loss) per share: |  |  |  |  |
Numerator: |  |  |  |  |
Net income (loss) attributable to Mistras Group, Inc. | $ | (17,453) |  |  | $ | 6,499 |  |  | $ | 3,860 |
Denominator |  |  |  |  |
Weighted average common shares outstanding | 30,330 |  |  | 29,901 |  |  | 29,572 |
Dilutive effect of stock options outstanding | — |  |  | — |  |  | 558 |
Dilutive effect of restricted stock units outstanding | — |  |  | 328 |  |  | — |
| 30,330 |  |  | 30,229 |  |  | 30,130 |
Diluted earnings (loss) per share | $ | (0.58) |  |  | $ | 0.21 |  |  | $ | 0.13 |
The following potential shares of common stock were excluded from the computation of diluted earnings per share, as the effect would have been anti-dilutive:
| For the year ended December 31,
| 2023 |  | 2022 |  | 2021
Potential shares of common stock attributable to restricted stock units (RSUs) and performance stock units (PSUs) outstanding (1) | 547 |  |  | 1,005 |  |  | 109 |
Potential shares of common stock attributable to stock options outstanding | — |  |  | 1 |  |  | 5 |
Total | 547 |  |  | 1,006 |  |  | 114 |
(1) For the year ended December 31, 2023, 1,014,527 shares of common stock related to restricted stock and 250,000 stock options, were excluded from the calculation of diluted EPS due to the net loss for the period.

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