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Note 2 - Income (loss) Per Share

9 Months Ended

Sep. 30, 2024

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 and restricted stock units ("RSUs") that have vested but not been delivered during the period. 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, RSUs, restricted stock, warrants (including the Pre-Funded Warrants, as defined in Note 8 below) 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, 2024 and 2023, basic and diluted income (loss) per share were as follows:

		Three Months Ended September 30,								Nine Months Ended September 30,
		2024				2023				2024				2023
Numerator:
Net loss		$	(7,944	)		$	(33,627	)		$	(25,847	)		$	(61,319	)
Denominator:
Weighted average shares outstanding			16,164,301				13,526,824				14,495,341				13,466,371
Weighted average restricted shares vested not delivered			287,972				286,599				287,912				285,539
Total basic weighted average shares outstanding			16,452,273				13,813,423				14,783,253				13,751,910
Dilutive effect of assumed conversion of restricted stock units			—				—				—				—
Total diluted weighted average shares outstanding			16,452,273				13,813,423				14,783,253				13,751,910
Basic and diluted income (loss) per share:
Basic		$	(0.48	)		$	(2.43	)		$	(1.75	)		$	(4.46	)
Diluted		$	(0.48	)		$	(2.43	)		$	(1.75	)		$	(4.46	)

Based on exercise prices compared to the average stock prices for the three and nine months ended September 30, 2024 and 2023, certain stock equivalents, including RSUs 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,
		2024				2023				2024				2023
Restricted stock units			993,623				916,563				993,623				916,563
Stock options			397,668				305,167				397,668				305,167
Total anti-dilutive securities			1,391,291				1,221,730				1,391,291				1,221,730

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- References

No definition available.

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- 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

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