XML 24 R14.htm IDEA: XBRL DOCUMENT v3.23.2
NET LOSS PER SHARE
 6 Months Ended
Jun. 30, 2023
NET LOSS PER SHARE  
NET LOSS PER SHARE

8. NET LOSS PER SHARE

Basic loss per share is computed by dividing the net loss by the weighted average shares outstanding. Diluted loss per share is computed by dividing the net loss by the weighted average diluted shares outstanding.

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

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended June 30, 

​

Six Months Ended June 30, 

​

​

    

2023

    

2022 (as adjusted)

    

2023

    

2022 (as adjusted)

 

Net loss

​

$

(4,430)

​

$

(7,579)

​

$

(4,843)

​

$

(8,964)

​

Weighted average common shares outstanding

​

 

​

​

 

​

​

​

​

​

​

​

​

Basic

​

​

25,000,564

​

​

25,000,564

​

 

25,000,564

​

 

24,855,667

​

Dilutive common stock options, restricted stock unit awards and restricted stock awards

​

​

—

​

​

—

​

​

—

​

​

—

​

Diluted

​

​

25,000,564

​

​

25,000,564

​

​

25,000,564

​

​

24,855,667

​

Basic loss per share of common stock

​

$

(0.18)

​

$

(0.30)

​

$

(0.19)

​

$

(0.36)

​

Diluted loss per share of common stock

​

$

(0.18)

​

$

(0.30)

​

$

(0.19)

​

$

(0.36)

​

​

The Company had a net loss for the three and six months ended June 30, 2023 and 2022. As a result, all stock options, restricted stock unit awards and restricted stock awards were anti-dilutive and excluded from weighted average shares used in determining the diluted loss per share of common stock for those periods. Basic and diluted weighted average shares outstanding for all periods reflect the issuance of 1,188,235 shares of our common stock to Wilks in relation to the Transaction as if such shares were issued on January 18, 2022.

The 5,811,765 shares issuable upon conversion of the Convertible Note have been excluded from the calculation of diluted loss per share of common stock, as their effect would be anti-dilutive.