Note 2 - Income (loss) Per Share

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

2. Income (loss) per share

Basic income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period, in addition to restricted stock units ("RSUs") that are vested but not delivered. Diluted income (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock are exercised or converted into common stock and is calculated using the treasury stock method for stock options, RSUs, restricted stock, warrants (including the Pre-Funded Warrants, as defined in Note 7 below) and deferred common stock. Stock equivalent shares are excluded from the calculation in loss periods, as their effects would be anti-dilutive.

For the three and six months ended June 30, 2024 and 2023, basic and diluted income (loss) per share were as follows:

		*Three Months Ended June 30,*								*Six Months Ended June 30,*
		*2024*				*2023*				*2024*				*2023*
Numerator:
Net income (loss)		$	(11,627	)		$	4,251			$	(17,903	)		$	(27,692	)
Denominator:
Weighted average shares outstanding			15,289,622				13,502,166				15,827,411				13,435,643
Weighted average restricted shares vested not delivered			245,367				285,829				287,882				285,000
Total basic weighted average shares outstanding			15,534,989				13,787,995				16,115,293				13,720,643
Dilutive effect of assumed conversion of restricted stock units			—				4,113				—				—
Total diluted weighted average shares outstanding			15,534,989				13,792,108				16,115,293				13,720,643
Basic and diluted income (loss) per share:
Basic		$	(0.75	)		$	0.31			$	(1.11	)		$	(2.02	)
Diluted		$	(0.75	)		$	0.31			$	(1.11	)		$	(2.02	)

Based on exercise prices compared to the average stock prices for the three and six months ended June 30, 2024 and 2023, certain stock equivalents, including RSUs and stock options, have been excluded from the diluted weighted average share calculations due to their anti-dilutive nature.

		*Three Months Ended June 30,*								*Six Months Ended June 30,*
		*2024*				*2023*				*2024*				*2023*
Restricted stock units			993,975				928,057				993,975				932,085
Stock options			298,331				356,500				298,331				356,500
Total anti-dilutive securities			1,292,306				1,284,557				1,292,306				1,288,585

FLUENT, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (CONTINUED)

(Amounts in thousands, except share and per share data)

(unaudited)