10. EARNINGS PER SHARE
The following table sets forth the composition of the weighted average shares (denominator) used in the basic and diluted loss per share computation for the years ended December 31, 2025, 2024 and 2023.
Year Ended December 31,
202520242023
Net loss$(24,046)$(49,510)$(46,496)
Weighted average shares outstanding, basic59,671 60,176 61,181 
Effect of dilutive outstanding restricted stock units and stock options— — — 
Weighted average shares outstanding, diluted59,671 60,176 61,181 
Basic loss per share$(0.40)$(0.82)$(0.76)
Diluted loss per share$(0.40)$(0.82)$(0.76)
Diluted loss per share calculations for the years ended December 31, 2025, 2024 and 2023 excluded 5.9 thousand, 0.5 million, and 0.6 million shares of common stock issuable upon exercise of stock options that would have been anti-dilutive, respectively. Diluted loss per share calculations for the years ended December 31, 2025, 2024 and 2023 excluded 1.3 million, 0.9 million and 1.0 million non-vested restricted stock units that would have been anti-dilutive, respectively.

Historical Timeline

Fiscal YearFiled
2025Mar 20, 2026Showing above
2024Mar 13, 2025
2023Mar 13, 2024
2022Mar 16, 2023
2021Mar 10, 2022
2020Mar 29, 2021
2019Mar 27, 2020
2018Apr 1, 2019
2017Mar 27, 2018
2016Mar 31, 2017

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.