Loss Per Share

3 Months Ended

Mar. 31, 2023

Basic loss per share was computed by dividing net loss by the weighted-average number of Common Shares outstanding for each respective period. Diluted loss per share was calculated by dividing net income by the weighted-average of all potentially dilutive Common Shares that were outstanding during the periods presented. However, for all periods in which the Company recognized a net loss, the Company did not recognize the effect of the potential dilutive securities as their inclusion would be anti-dilutive. Potential dilutive shares of 292,860 and 218,727 for the three months ended March 31, 2023 and 2022, respectively, were excluded from diluted loss per share because the effect would be anti-dilutive.

Weighted-average Common Shares outstanding used in calculating basic and diluted earnings per share were as follows:


	Three months ended March 31,
	2023	2022
Basic weighted-average Common Shares outstanding	27,349,357	27,198,677
Effect of dilutive shares	—	—
Diluted weighted-average Common Shares outstanding	27,349,357	27,198,677

There were 521,304 and 797,873 performance-based right to receive Common Shares outstanding at March 31, 2023 and 2022, respectively. The right to receive Common Shares are included in the computation of diluted earnings per share based on the number of Common Shares that would be issuable if the end of the quarter were the end of the contingency period.