Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) per Common Share (Tables)

v3.22.2
Earnings (Loss) per Common Share (Tables)
6 Months Ended
Jun. 30, 2022
Earnings Per Share [Abstract]  
Schedule of Reconciliation of Common Shares Used to Calculate Basic and Diluted Earnings Per Common Share The following table reconciles the earnings (loss) and number of common shares used to calculate basic and diluted earnings per common share attributable to the Company’s shareholders:
Three Months Ended June 30, Six Months Ended June 30,
2022 2021 2022 2021
Basic earnings per common share:
Net income (loss) - basic $ 35,738  $ (46,058) $ 24,982  $ (73,494)
Weighted shares outstanding - basic 75,408,116  58,560,928  75,268,854  45,924,405 
Basic earnings (loss) per common share $ 0.47  $ (0.79) $ 0.33  $ (1.60)
Diluted earnings per common share:
Net income (loss) - basic $ 35,738  $ (46,058) $ 24,982  $ (73,494)
Add: Convertible Note interest expense, net of tax 3,938  7,701 
Reverse: Change in fair value of derivative liability (10,087) (12,642)
Net income (loss) - diluted $ 29,589  $ (46,058) $ 20,041  $ (73,494)
Weighted shares outstanding - basic 75,408,116  58,560,928  75,268,854  45,924,405 
Add: Dilutive effects of stock options and restricted stock units 2,161,848  2,372,201 
Add: Dilutive effects of if-converted Convertible Note 7,640,246  7,640,246 
Weighted shares outstanding - diluted 85,210,210  58,560,928  85,281,301  45,924,405 
Diluted earnings (loss) per common share $ 0.35  $ (0.79) $ 0.23  $ (1.60)
Schedule of Securities Excluded As a result of the Business Combination, the underlying shares have been retroactively restated to give effect to the recapitalization based on the Exchange Ratio.
Three Months Ended June 30, Six Months Ended June 30,
2022 2021 2022 2021
Convertible notes payable 8,695,652 8,695,652
Outstanding warrants 24,365,719 24,365,719 24,365,719 24,365,719
Stock options 946,560 3,500,121 946,560 3,500,121
Restricted stock units 915,322 799,823
Total anti-dilutive stock 26,227,601 36,561,492 26,112,102 36,561,492