XML 26 R17.htm IDEA: XBRL DOCUMENT v3.22.1
EARNINGS PER SHARE
3 Months Ended
Mar. 31, 2022
EARNINGS PER SHARE  
EARNINGS PER SHARE

11. EARNINGS PER SHARE

The following represents the calculation of earnings (loss) per share (in thousands, except per share amounts):

Three Months Ended

March 31,

2022

2021

Basic:

Net income (loss)

$

(92,744)

$

(33,375)

Weighted average basic number of common shares outstanding

16,303

16,232

Basic net income (loss) per share of common stock

$

(5.69)

$

(2.06)

Diluted:

Net income (loss)

$

(92,744)

$

(33,375)

Weighted average basic number of common shares outstanding

16,303

16,232

Common stock equivalent shares representing shares issuable upon:

Exercise of Series A Warrants

Anti-dilutive

Anti-dilutive

Exercise of Series B Warrants

Anti-dilutive

Anti-dilutive

Exercise of Series C Warrants

Anti-dilutive

Anti-dilutive

Exercise of stock options

Anti-dilutive

Anti-dilutive

Vesting of restricted stock units

Anti-dilutive

Anti-dilutive

Weighted average diluted number of common shares outstanding

16,303

16,232

Diluted net income (loss) per share of common stock

$

(5.69)

$

(2.06)

Common stock equivalents, including warrants, options and restricted stock units, totaling 7.7 million for the three months ended March 31, 2022 were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive due to the net loss.

Common stock equivalents, including warrants, options and restricted stock units, totaling 7.8 million for the three months ended March 31, 2021 were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive due to the net loss.