v3.22.2.2
Loss Per Share
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Loss Per Share

(5) Loss Per Share

The following table sets forth the computation of basic and diluted loss per share for the three- and nine-month periods ended September 30, 2022 and 2021:

 

(In thousands, except per share data)

 

Three-month period ended September 30, 2022

 

 

Three-month period ended September 30, 2021

 

 

Nine-month period ended September 30, 2022

 

 

Nine-month period ended September 30, 2021

 

Basic and diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss—basic

 

$

(13,854

)

 

$

(27,071

)

 

$

(85,058

)

 

$

(83,387

)

Net income (loss)—diluted

 

$

(13,854

)

 

$

(27,071

)

 

$

(85,058

)

 

$

(83,387

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding used in computing net loss per share—basic

 

 

24,290

 

 

 

11,131

 

 

 

18,148

 

 

 

10,204

 

Plus: net effect of dilutive stock options and restricted common shares

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding used in computing net loss per share—diluted

 

 

24,290

 

 

 

11,131

 

 

 

18,148

 

 

 

10,204

 

Net loss per share—basic

 

$

(0.57

)

 

$

(2.43

)

 

$

(4.69

)

 

$

(8.17

)

Net loss per share—diluted

 

$

(0.57

)

 

$

(2.43

)

 

$

(4.69

)

 

$

(8.17

)

 

Securities that could potentially be dilutive are excluded from the computation of diluted loss per share when a loss from continuing operations exists or when the exercise price exceeds the average closing price of the Company’s common stock during the period, because their inclusion would result in an anti-dilutive effect on per share amounts.

The following amounts were not included in the calculation of net loss per diluted share because their effects were anti-dilutive:

 

(In thousands)

 

Three-month period ended September 30, 2022

 

 

Three-month period ended September 30, 2021

 

 

Nine-month period ended September 30, 2022

 

 

Nine-month period ended September 30, 2021

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options and restricted common shares

 

 

1,134

 

 

 

1,370

 

 

 

1,089

 

 

 

1,368

 

 

Performance share units are excluded from the calculation of net loss per diluted share as the performance criteria has not been met for the three- and nine-month periods ended September 30, 2022 and 2021. Additionally, the impact of the convertible senior notes was determined to be anti-dilutive and excluded from the calculation of net loss per diluted share for the three- and nine-month periods ended September 30, 2022 and 2021.