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EARNINGS PER SHARE

6 Months Ended

Jun. 30, 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						Six Months Ended
		June 30,						June 30,
		2022			2021			2022			2021
Basic:
Net income (loss)		$	13,047		$	(33,929)		$	(79,697)		$	(67,304)
Weighted average basic number of common shares outstanding			16,338			16,268			16,320			16,250
Basic net income (loss) per share of common stock		$	0.80		$	(2.09)		$	(4.88)		$	(4.14)

Diluted:
Net income (loss)		$	13,047		$	(33,929)		$	(79,697)		$	(67,304)
Weighted average basic number of common shares outstanding			16,338			16,268			16,320			16,250
Common stock equivalent shares representing shares issuable upon:
Exercise of Series A Warrants			Anti-dilutive			Anti-dilutive			Anti-dilutive			Anti-dilutive
Exercise of Series B Warrants			Anti-dilutive			Anti-dilutive			Anti-dilutive			Anti-dilutive
Exercise of Series C Warrants			Anti-dilutive			Anti-dilutive			Anti-dilutive			Anti-dilutive
Exercise of stock options			Anti-dilutive			Anti-dilutive			Anti-dilutive			Anti-dilutive
Vesting of restricted stock units			172			Anti-dilutive			Anti-dilutive			Anti-dilutive
Weighted average diluted number of common shares outstanding			16,510			16,268			16,320			16,250
Diluted net income (loss) per share of common stock		$	0.79		$	(2.09)		$	(4.88)		$	(4.14)

Common stock equivalents, including warrants and options totaling 7.4 million for the quarter ended June 30, 2022 were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive. Common stock equivalents, including warrants, options and restricted stock units, totaling 7.7 million for the six months ended June 30, 2022 were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive.

Common stock equivalents, including warrants, options and restricted stock units, totaling 7.7 million for the six months ended June 30, 2021 were not included in the computation of diluted earnings per share of common stock because the effect would have been anti-dilutive.