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Note 3 - Net Loss Per Share

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 3—Net Loss Per Share

Basic net income (loss) per share (“Basic EPS”) is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per share (“Diluted EPS”) is computed by dividing net income (loss) by the weighted average number of common shares and potentially dilutive common shares outstanding during the period using the treasury stock method. We do not compute Diluted EPS for periods in which we have overall net income and a net loss from continuing operations.

Potentially dilutive securities are as follows:

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2024				2023				2024				2023
2026Notes convertible to common stock ⁽¹⁾⁽²⁾			5,293,414				12,172,008				8,882,651				12,172,008
2023Notes convertible to common stock ⁽³⁾			—				4,941,739				—				4,941,739
Outstanding options to purchase common stock			176,121				34,450				108,507				37,394
Outstanding restricted stock units⁽⁴⁾			—				70,250				—				70,250
Total potentially dilutive shares excluded from net loss per share			5,469,535				17,218,447				8,991,158				17,221,391

	(1)	The 2026 Notes are subject to a capped call arrangements that potentially reduces the dilutive effect of conversion as described in “Note 6 — Debt.” Any potential impact of the capped call arrangement is excluded from this table.
	(2)	On June 3, 2024, we repurchased $118.1 million of our 2026 Notes reducing any effect of dilution related to those notes. For further details refer to “Note 6 — Debt.”
	(3)	The 2023 Notes (defined below) were fully extinguished upon maturity on November 15, 2023.
	(4)	The outstanding restricted stock units were vested and converted to shares of common stock on December 1, 2023.