InfuSystem Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Earnings (Loss) Per Share

Earnings (Loss) Per Share

6 Months Ended

Jun. 30, 2023

Earnings (Loss) Per ShareBasic income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted income (loss) per share assumes the issuance of potentially dilutive shares of common stock during the period. The following table reconciles the numerators and denominators of the basic and diluted income (loss) per share computations:


	Three Months Ended June 30,				Six Months Ended June 30,
Numerator (in thousands):	2023		2022		2023		2022
Net income (loss):	$	435	$	(164)	$	111	$	(532)
Denominator:
Weighted average common shares outstanding:
Basic	20,955,048		20,583,928		20,904,315		20,596,580
Dilutive effect of common stock equivalents	645,298		—		661,352		—
Diluted	21,600,346		20,583,928		21,565,667		20,596,580
Net income (loss) per share:
Basic	$	0.02	$	(0.01)	$	0.01	$	(0.03)
Diluted	$	0.02	$	(0.01)	$	0.01	$	(0.03)

For the three and six months ended June 30, 2023, there were 901,995 and 755,234, respectively, of outstanding options and unvested restricted stock units with an exercise price above the current market value of the Company's common stock that were not included in the calculation because they would have an anti-dilutive effect. For both the three and six months ended June 30, 2022, all outstanding options and unvested restricted stock units were anti-dilutive due to the Company's net losses for the periods and therefore not included in the calculation.

Share Repurchase Program

On June 30, 2021, our Board of Directors approved a stock repurchase program (the “Share Repurchase Program”) that authorizes the Company to repurchase up to $20.0 million of the Company’s outstanding common stock through June 30, 2024. Repurchases under the Share Repurchase Program are subject to market conditions, the periodic capital needs of the Company’s operating activities, and the continued satisfaction of all covenants under the Company’s existing 2021 Credit Agreement, as amended. Repurchases under the Share Repurchase Program may take place in the open market or in privately negotiated transactions and may be made under a Rule 10b5-1 plan. The Share Repurchase Program does not obligate the Company to repurchase shares and may be suspended, terminated, or modified at any time at the discretion of the Board. As of June 30, 2023, the Company had repurchased and retired approximately $6.2 million, or 553,149 shares, of the Company's outstanding common stock under the Share Repurchase Program.