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NET INCOME (LOSS) PER SHARE
 6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER SHARE

12. NET INCOME (LOSS) PER SHARE

 

Basic net income (loss) per common share is calculated by dividing net income (loss) attributable to common shareholders by the weighted-average number of common shares outstanding for the respective period. Diluted net income (loss) per common share is calculated by dividing adjusted net income (loss) by the diluted weighted average number of common shares outstanding, which includes the effect of potentially dilutive securities. Potentially dilutive securities for this calculation consist of stock options and warrants, which are measured using the treasury stock method, and unvested shares of restricted common stock. When the Company recognizes a net loss, as was the case for the six months ended June 30, 2022 and the three and six months ended June 30, 2021, all potentially dilutive shares are anti-dilutive and are consequently excluded from the calculation of dilutive net loss per common share.

 

The following table sets forth the calculation of basic and diluted net income (loss) per share for the three and six months ended June 30, 2022 and 2021:

 

   2022   2021   2022   2021 
   Three Months Ended
June 30,		   Six Months Ended
June 30,		 
   2022   2021   2022   2021 
   (in thousands except per share data) 
Net income (loss)  $122   $(207)  $(3,262)  $(369)
                     
Basic weighted average common shares outstanding   24,924    4,676    24,324    4,305 
Dilutive effect of potentially dilutive securities   341    -    -    - 
Diluted weighted average common shares outstanding   25,265    4,676    24,324    4,305 
                     
Basic net income (loss) per share  $0.00   $(0.04)  $(0.13)  $(0.09)
Diluted net income (loss) per share  $0.00   $(0.04)  $(0.13)  $(0.09)

 

 

For the three and six months ended June 30, 2022 and 2021, potentially dilutive securities excluded from the calculation of weighted average shares because they were anti-dilutive are as follows:

 

   Three Months Ended
June 30,		   Six Months Ended
June 30,		 
   2022   2021   2022   2021 
   (in thousands) 
Stock options   30    31    30    31 
Unvested shares of restricted stock   -    174    787    150 
Warrants   -    50    -    50 
Total   30    255    817    231