Annual report pursuant to Section 13 and 15(d)

(Loss) Earnings per Share

v3.24.0.1
(Loss) Earnings per Share
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
(Loss) Earnings per Share (Loss) Earnings per Share
Basic and diluted (loss) earnings per share for the years ended December 31, 2023, 2022 and 2021, respectively consisted of the following (in thousands, except per share data):
Years Ended December 31,
2023 2022 2021
Numerator (Basic and Diluted):
Net (loss) income $ (34,035) $ 104,225  $ 142,470 
Change in value for stock settled consideration(1)
65 (37) 27
Adjusted net (loss) income $ (33,970) $ 104,188  $ 142,497 
Denominator:
Basic
Weighted average common shares issued and outstanding 38,674 39,751 39,575
Deduct: Unvested RSAs (2)
(15) (12) (14)
Add: Fully vested DSUs (3)
— 154 327
Weighted average common shares outstanding 38,659 39,893 39,888
Basic (loss) earnings per common share $ (0.88) $ 2.61  $ 3.57 
Diluted
Weighted average common shares outstanding from above 38,659 39,893 39,888
Add: Dilutive effect of RSUs, RSAs & ESPP(4)
— 207 206
Add: Contingently issuable shares(1)(4)
— 86 93
Weighted average common shares outstanding 38,659 40,186 40,187
Diluted (loss) earnings per common share $ (0.88) $ 2.59  $ 3.55 
Antidilutive shares excluded from diluted earnings per common share(5)
1,593 1,084 366
(1)Relates to contingently issuable stock settled consideration.
(2)RSAs were issued and outstanding to the non-employee directors and have a one-year vesting term subject to service requirements. See Note 11 – “Stock-Based Compensation Plans” for additional information.
(3)Shares are included in weighted average common shares outstanding as the shares are fully vested but have not yet been delivered. See Note 11 – “Stock-Based Compensation Plans” for additional information.
(4)Shares related to the Company's RSUs, RSAs, ESPP, and contingently issuable shares were excluded from the weighted average common shares outstanding for the year ended December 31, 2023 because inclusion of such shares would be antidilutive in a period of loss.
(5)Primarily pertaining to RSU grants to the Company’s employees and independent contractors.