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Net Loss per Share
 3 Months Ended
Mar. 31, 2022
Income (loss) per common share:  
Net Loss per Share

22. Net Loss per Share

 

Basic net earnings per common share are calculated by dividing net income by the weighted average number of common shares outstanding during the period. Diluted net earnings per common share are calculated by dividing net income by the diluted weighted average number of common shares outstanding during the period. The diluted shares include the dilutive effect of stock-based awards based on the treasury stock method.

 

Basic and diluted net income (loss) per share attributable to common stockholders is calculated as follows:

 

   2022   2021 
   Three Months Ended March 31, 

(only dollars are in thousands)

  2022   2021 
Net income (loss)  $5,561   $(3,534)
           
Shares          
Basic weighted average common shares outstanding   17,104,749    8,000,000 
Add: Effect of dilutive securities          
Stock options and restricted stock units   28,469    - 
Diluted weighted average common shares outstanding   17,133,218    8,000,000 
           
Net earnings (loss) per share:          
Basic  $0.33   $(0.44)
Diluted  $0.32   $(0.44)

 

 

The following table sets forth the potential common shares that were not included in the diluted per share calculations for the three months ended March 31, 2022 because the exercise price was greater than their average market value and they would be anti-dilutive:

 

March 31,  2022   2021 
Common stock warrants   4,349,537    4,349,537 
Common stock options   575,518    613,614 
Restricted Stock Units   -    170,068