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Note 2 - Income (Loss) Per Share

9 Months Ended

Sep. 30, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

2. Income (loss) per share

Basic income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period, in addition to restricted stock units ("RSUs") that are vested but not delivered. Diluted income (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock are exercised or converted into common stock and is calculated using the treasury stock method for stock options, restricted stock units, restricted stock, warrants and deferred common stock. Stock equivalent shares are excluded from the calculation in loss periods, as their effects would be anti-dilutive.

For the three and nine months ended September 30, 2023 and 2022, basic and diluted income (loss) per share were as follows:

		*Three Months Ended September 30,*								*Nine Months Ended September 30,*
		*2023*				*2022*				*2023*				*2022*
Numerator:
Net income (loss)		$	(33,627	)		$	3,113			$	(61,319	)		$	(55,844	)
Denominator:
Weighted average shares outstanding			81,160,944				79,898,219				80,798,223				79,620,308
Weighted average restricted shares vested not delivered			1,719,592				1,694,097				1,713,231				1,707,331
Total basic weighted average shares outstanding			82,880,536				81,592,316				82,511,454				81,327,639
Dilutive effect of assumed conversion of restricted stock units			—				107,650				—
Total diluted weighted average shares outstanding			82,880,536				81,699,966				82,511,454				81,327,639
Basic and diluted income (loss) per share:
Basic		$	(0.41	)		$	0.04			$	(0.74	)		$	(0.69	)
Diluted		$	(0.41	)		$	0.04			$	(0.74	)		$	(0.69	)

Based on exercise prices compared to the average stock prices for the three and nine months ended September 30, 2023 and 2022, certain stock equivalents, including restricted stock units and stock options, have been excluded from the diluted weighted average share calculations due to their anti-dilutive nature.

		*Three Months Ended September 30,*								*Nine Months Ended September 30,*
		*2023*				*2022*				*2023*				*2022*
Restricted stock units			5,499,375				1,220,790				5,499,375				1,780,022
Stock options			1,831,000				2,139,000				1,831,000				2,139,000
Total anti-dilutive securities			7,330,375				3,359,790				7,330,375				3,919,022

FLUENT, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

(Amounts in thousands, except share and per share data)

(unaudited)