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Note 6 - Earnings Per Common Share

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

(6) Earnings Per Common Share

The Company calculates basic and diluted earnings per common share in accordance with ASC 260 “Earnings Per Share,” using the treasury stock method. 

Basic earnings per common share excludes dilution and is calculated by dividing earnings to common shares by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share is calculated by dividing earnings to common shares by the weighted-average number of common shares, as adjusted for the potentially dilutive effect of stock options, and unvested RSUs and PRSUs. The dilutive effect of stock options, and unvested RSUs and PRSUs is determined using the treasury stock method. RSAs are included in shares outstanding on the date of grant.

The following table reconciles earnings (loss) per common share:

		Year Ended December 31,
		2023				2022
Basic Earnings (Loss) per Share:
Net loss — basic		$	(45,959	)		$	(59,798	)
Weighted average shares outstanding — basic			20,322				19,140
Basic loss per share		$	(2.26	)		$	(3.12	)
Diluted Earnings (Loss) per Share:
Net loss — diluted		$	(45,959	)		$	(59,798	)
Weighted average shares outstanding — diluted			20,322				19,140
Diluted loss per share		$	(2.26	)		$	(3.12	)

The following table indicates the common stock equivalents related to stock options, and unvested RSAs, RSUs and PRSUs that were anti-dilutive and excluded from diluted earnings (loss) per common share calculations:

		Year Ended December 31,
		2023				2022
Anti-dilutive shares due to:
Exercise prices higher than the average market price			—				50
Net loss			134				—

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The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//260/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-3

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