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NET INCOME (LOSS) PER SHARE
 9 Months Ended
Sep. 30, 2023
NET INCOME (LOSS) PER SHARE  
NET INCOME (LOSS) PER SHARE

8. NET INCOME (LOSS) PER SHARE

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

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

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended September 30, 

​

Nine Months Ended September 30, 

​

​

    

2023

    

2022 (as adjusted)

    

2023

    

2022 (as adjusted)

 

Net income (loss)

​

$

(5,198)

​

$

(6,912)

​

$

(10,041)

​

$

(15,876)

​

Weighted average common shares outstanding

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​

​

 

​

​

​

​

​

​

​

​

Basic

​

​

26,137,648

​

​

25,000,564

​

 

25,383,757

​

 

24,904,495

​

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

​

​

—

​

​

—

​

​

—

​

​

—

​

Diluted

​

​

26,137,648

​

​

25,000,564

​

​

25,383,757

​

​

24,904,495

​

Basic income (loss) per share of common stock

​

$

(0.20)

​

$

(0.28)

​

$

(0.40)

​

$

(0.64)

​

Diluted income (loss) per share of common stock

​

$

(0.20)

​

$

(0.28)

​

$

(0.40)

​

$

(0.64)

​

​

The Company had a net loss for the three and nine months ended September 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 income (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 14, 2022.

The following weighted average numbers of stock options, restricted stock unit awards and restricted stock awards have been excluded from the calculation of diluted loss per share of common stock, as their effect would be anti-dilutive for the three and nine months ended September 30, 2023 and 2022:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three Months Ended September 30, 

​

    

Nine Months Ended September 30, 

​

​

    

2023

    

2022 (as adjusted)

​

    

2023

    

2022 (as adjusted)

​

Convertible Note

​

​

4,674,680

​

​

—

​

​

​

3,682,913

​

​

—

​

Restricted stock units

​

​

—

​

​

90,000

​

​

​

—

​

​

196,794

​

Restricted stock awards

​

​

—

​

​

—

​

​

​

—

​

​

—

​

Stock options

​

​

—

​

​

—

​

​

​

—

​

​

—

​

Total

​

​

4,674,680

​

​

90,000

​

​

​

3,682,913

​

​

196,794

​

​