XML 31 R25.htm IDEA: XBRL DOCUMENT
v3.24.3

Loss Per Share | 9 Months Ended
--- | ---
Sep. 30, 2024
Earnings Per Share [Abstract] |
Loss Per Share | Note 17 – Loss Per Share The net loss available to common stockholders and weighted-average common shares outstanding are as follows:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income |  | $ | (107,046 | ) |  | $ | 3,193 |  |  | $ | (110,440 | ) |  | $ | (20,733 | )
Accretion of financing fees |  |  | (144 | ) |  |  | (146 | ) |  |  | (431 | ) |  |  | (203 | )
Accrued dividends on Series C Preferred Stock |  |  | (4,676 | ) |  |  | (3,923 | ) |  |  | (13,340 | ) |  |  | (5,535 | )
Net loss available to common stockholders - basic |  | $ | (111,866 | ) |  | $ | (876 | ) |  | $ | (124,211 | ) |  | $ | (26,471 | )
Net loss available to common stockholders - diluted |  | $ | (111,866 | ) |  | $ | (876 | ) |  | $ | (124,211 | ) |  | $ | (26,471 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares outstanding |  |  | 17,633,629 |  |  |  | 17,044,251 |  |  |  | 17,433,479 |  |  |  | 16,937,968 |
Issuance of Warrants |  |  | 13,720,368 |  |  |  | 12,499,712 |  |  |  | 13,086,066 |  |  |  | 11,126,442 |
Weighted average common shares outstanding - basic |  |  | 31,353,997 |  |  |  | 29,543,963 |  |  |  | 30,519,545 |  |  |  | 28,064,410 |
Weighted average common shares outstanding - diluted |  |  | 31,353,997 |  |  |  | 29,543,963 |  |  |  | 30,519,545 |  |  |  | 28,064,410 |
The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for Common Stock and participating securities. The Company’s participating securities are its grants of restricted stock which contain non-forfeitable rights to dividends. The Company allocates earnings between both classes; however, in periods of undistributed losses, they are only allocated to common shares as the unvested restricted stockholders do not contractually participate in losses of the Company. The Company computes basic earnings per share by dividing net income allocated to common shareholders by the weighted average number of shares outstanding during the period. Warrants issued in connection with the Company's long-term debt were issued at a nominal exercise price and are considered outstanding at the date of issuance. The 2023 Warrant was issued out-of-the money and the Company will apply the treasury stock method to the 2023 Warrant when computing earnings per share. Diluted earnings per share is calculated to give effect to all potentially dilutive common shares that were outstanding during the period. Weighted average diluted common shares outstanding include the incremental shares that would be issued upon the assumed exercise of stock options and the assumed vesting of nonvested share awards. For the three months ended September 30, 2024 and 2023, 2,058,180 and 6,222,085 shares, respectively, were not included in the weighted average common shares outstanding calculation as they were anti-dilutive. For the nine months ended September 30, 2024 and 2023, 3,119,672 and 5,996,646 shares, respectively, were not included in the weighted average common shares outstanding calculation as they were anti-dilutive.

X
- References No definition available. + Details
Name: | us-gaap_EarningsPerShareAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration