Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2024

Note 11. Net Income (Loss) Per Share

The following table sets forth the computation of basic and diluted net income (loss) per share of common stock attributable to common stockholders:


	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2024		2023			2024			2023
	(in thousands, except per-share data)
Net income (loss)	$	3,413	$	(3,606	)	$	(3,956	)	$	(26,231	)

Weighted average common shares outstanding — Basic		20,553		17,345			20,050			17,029
Plus incremental shares from assumed conversions:
Dilutive effect of restricted stock		111		—			—			—
Dilutive effect of stock options		287		—			—			—
Dilutive effect of warrants		550		—			—			—
Weighted average common shares outstanding — Diluted		21,501		17,345			20,050			17,029
Net income (loss) per share:
Basic	$	0.17	$	(0.21	)	$	(0.20	)	$	(1.54	)
Diluted	$	0.16	$	(0.21	)	$	(0.20	)	$	(1.54	)

Incremental shares from stock options and restricted stock awards are computed using the treasury stock method. The weighted average shares listed below were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented or were otherwise excluded under the treasury stock method. The treasury stock method calculates dilution assuming the exercise of all in-the-money options and vesting of restricted stock, reduced by the repurchase of shares with the proceeds from the assumed exercises and unrecognized compensation expense for outstanding awards.


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
	(in thousands)
Stock options		66		1,195		818		1,374
Unvested restricted stock awards		316		797		674		855
Warrants		—		550		550		550
Total		382		2,542		2,042		2,779