XML 28 R19.htm IDEA: XBRL DOCUMENT v3.23.1
LOSS PER SHARE
 3 Months Ended
Mar. 31, 2023
Earnings Per Share [Abstract]  
LOSS PER SHARE

12. LOSS PER SHARE

 

Basic net loss per common share is calculated by dividing net loss attributable to common shareholders by the weighted-average number of common shares outstanding for the respective period. Diluted net loss per common share is calculated by dividing adjusted net 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 unvested shares of restricted common stock, which are measured using the treasury stock method. When the Company recognizes a net loss, as was the case for the three months ended March 31, 2023 and 2022, 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 loss per share for the three months ended March 31, 2023 and 2022:

 

           
   Three Months Ended March 31, 
   2023   2022 
   (in thousands except per share data) 
Net loss applicable to common shareholders  $(1,247)  $(3,384)
           
Basic weighted-average common shares outstanding   25,179    23,717 
Dilutive effect of potentially dilutive securities   -    - 
Diluted weighted-average common shares outstanding   25,179    23,717 
           
Basic net loss per share  $(0.05)  $(0.14)
Diluted net loss per share  $(0.05)  $(0.14)

 

For the three months ended March 31, 2023 and 2022, potentially dilutive securities excluded from the calculation of weighted average shares because they were anti-dilutive are as follows:

 

   2023   2022 
   (in thousands) 
Stock options   28    30 
Unvested shares of restricted stock   1,210    787 
Total   1,238    817