|
10. EARNINGS (LOSS) PER SHARE.
The following tables compute basic and diluted
earnings (loss) per share (in thousands, except per share data):
| |
|
Three Months Ended September 30, 2022 |
|
| |
|
Loss
Numerator |
|
|
Shares
Denominator |
|
|
Per-Share
Amount |
|
| Net loss |
|
$ |
(28,038 |
) |
|
|
|
|
|
|
|
|
| Less: Preferred stock dividends |
|
|
(319 |
) |
|
|
|
|
|
|
|
|
| Basic and Diluted loss per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Loss available to common stockholders |
|
$ |
(28,357 |
) |
|
|
73,011 |
|
|
$ |
(0.39 |
) |
| |
|
Three Months Ended September 30, 2021 |
|
| |
|
Loss
Numerator |
|
|
Shares
Denominator |
|
|
Per-Share
Amount |
|
| Net loss |
|
$ |
(3,132 |
) |
|
|
|
|
|
|
|
|
| Less: Preferred stock dividends |
|
|
(319 |
) |
|
|
|
|
|
|
|
|
| Basic and Diluted loss per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Loss available to common stockholders |
|
$ |
(3,451 |
) |
|
|
71,383 |
|
|
$ |
(0.05 |
) |
| |
|
Nine Months Ended September 30, 2022 |
|
| |
|
Loss
Numerator |
|
|
Shares
Denominator |
|
|
Per-Share
Amount |
|
| Net loss |
|
$ |
(8,525 |
) |
|
|
|
|
|
|
|
|
| Less: Preferred stock dividends |
|
|
(946 |
) |
|
|
|
|
|
|
|
|
| Basic and Diluted loss per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Loss available to common stockholders |
|
$ |
(9,471 |
) |
|
|
71,815 |
|
|
$ |
(0.13 |
) |
| |
|
Nine Months Ended September 30, 2021 |
|
| |
|
Income
Numerator |
|
|
Shares
Denominator |
|
|
Per-Share
Amount |
|
| Net income |
|
$ |
9,936 |
|
|
|
|
|
|
|
|
|
| Less: Preferred stock dividends |
|
|
(946 |
) |
|
|
|
|
|
|
|
|
| Less: Income allocated to participating securities |
|
|
(120 |
) |
|
|
|
|
|
|
|
|
| Basic income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income available to common stockholders |
|
$ |
8,870 |
|
|
|
71,002 |
|
|
$ |
0.12 |
|
| Add: Dilutive instruments |
|
|
— |
|
|
|
1,258 |
|
|
|
|
|
| Diluted income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income available to common stockholders |
|
$ |
8,870 |
|
|
|
72,260 |
|
|
$ |
0.12 |
|
There were an additional aggregate potentially
dilutive weighted-average shares of 964,000 from convertible securities outstanding for the three and nine months ended September 30,
2022 and 2021. These securities were not considered in calculating diluted net income (loss) per share for the three and nine months ended
September 30, 2022 and 2021, as their effect would have been anti-dilutive. At December 31, 2021, the Company had outstanding unexercised
warrants to purchase 8.9 million shares of its common stock at an exercise price of $9.76 per share. These warrants expired unexercised
on April 28, 2022.
|