Income (Loss) per Share

12 Months Ended

Dec. 31, 2024

Basic income (loss) per share (“EPS”) excludes dilution and is computed by dividing net loss attributable to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock using the treasury stock method. Potentially dilutive securities (consisting primarily of the 2025 Convertible Notes calculated

using the if-converted method and warrants, stock options and RSUs calculated using the treasury stock method) are excluded from the diluted EPS computation in loss periods and when their effect would be anti-dilutive.

The calculation of basic and diluted earnings per share was as follows (in thousands, except share and per share data):


	Income/(Loss) (Numerator)		Shares* (Denominator)	Per-Share Amount
Year Ended December 31, 2024
Basic and Diluted EPS
Loss from continuing operations	$	(14,369)
Less: preferred stock dividends	(3,269)
Loss from continuing operations attributable to common stockholders	(17,638)		12,535,756	$	(1.41)
Income from discontinued operations, net of tax	18,941		12,535,756	$	1.51
Income attributable to common stockholders	$	1,303	12,535,756	$	0.10

Year Ended December 31, 2023
Basic and Diluted EPS
Loss from continuing operations	$	(45,016)
Less: preferred stock dividends	(2,991)
Loss from continuing operations attributable to common stockholders	(48,007)		11,372,069	$	(4.22)
Loss from discontinued operations, net of tax	(1,169)		11,372,069	$	(0.10)
Loss attributable to common stockholders	$	(49,176)	11,372,069	$	(4.32)

(*) Adjusted retroactively for reverse stock split that occurred on January 24, 2024, see Note 1

The following is a summary of outstanding potential shares of common stock that have been excluded from the computation of diluted net loss per share attributable to common stockholders because their inclusion would have been anti-dilutive (in thousands):


	Year Ended December 31,
	2024	2023
2025 Convertible Notes	119	1,291
Common stock warrants	3,018	—
Non-qualified stock options	270	546
Restricted stock units	1,112	203
Employee Stock Purchase Plan	29	25
Total	4,548	2,065