NOTE 6—NET INCOME PER COMMON SHARE

Basic earnings per share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that would share in the net income of the Company. For the year ended December 31, 2025, 2.2 million restricted stock units have not been considered in the diluted earnings per share calculation, as the effect would be anti-dilutive.

The following tables set forth the computation of basic and diluted earnings per share:

Year Ended December 31,

  ​ ​ ​

2025

  ​ ​ ​

2024

 

Basic:

Net income

$

9,341

$

2,839

Weighted average common shares

 

48,161

 

48,785

Earnings per share

$

0.19

$

0.06

Diluted:

Net income

$

9,341

$

2,839

Basic weighted average common shares

 

48,161

 

48,785

Potential common shares

 

2,173

 

1,264

Diluted weighted average common shares

 

50,334

 

50,049

Diluted earnings per share

$

0.19

$

0.06

Historical Timeline

Fiscal YearFiled
2025Mar 6, 2026Showing above
2024Mar 13, 2025
2023Mar 8, 2024
2022Mar 10, 2023
2021Mar 11, 2022

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.