(Loss) Earnings Per Share

9 Months Ended

Sep. 30, 2024

Basic (loss) earnings per share was computed by dividing net (loss) income by the weighted-average number of Common Shares outstanding for each respective period. Diluted (loss) earnings 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 237,870 for the three months ended September 30, 2024 were excluded from diluted loss per share because the effect would be anti-dilutive. Potential dilutive shares of 244,471 and 238,342 for the nine months ended September 30, 2024 and 2023, 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 September 30,		Nine months ended September 30,
	2024	2023	2024	2023
Basic weighted-average Common Shares outstanding	27,617,663	27,483,709	27,585,904	27,428,249
Effect of dilutive shares	—	250,400	—	—
Diluted weighted-average Common Shares outstanding	27,617,663	27,734,109	27,585,904	27,428,249

There were 612,886 and 425,612 performance-based right to receive Common Shares outstanding at September 30, 2024 and 2023, respectively. The right to receive Common Shares are included in the computation of diluted earnings per share, to the extent they are not anti-dilutive, based on the number of Common Shares that would be issuable if the end of the quarter were the end of the performance period.