Note 7 − Earnings Per Share

Basic earnings per share are based on the weighted average number of shares outstanding for a period. Diluted earnings per share are based upon the weighted average number of shares and potentially dilutive common shares outstanding. Potential common shares outstanding principally include stock options, RSUs and unvested restricted stock under our stock plan and warrants.
The table below sets forth the basic and diluted loss per share calculations:

   
Year Ended December 31,
 
   
2025
   
2024
 
Net (loss)
 
$
(18,225
)
 
$
(18,175
)
                 
Basic weighted average number of shares outstanding
   
3,647
     
3,596
 
Effect of dilutive securities
   
     
 
Diluted weighted average number of shares outstanding
   
3,647
     
3,596
 
                 
Basic (loss) per share
 
$
(5.00
)
 
$
(5.05
)
Diluted (loss) per share
 
$
(5.00
)
 
$
(5.05
)

We incurred net losses for the years ended December 31, 2025 and 2024; therefore, all potentially dilutive securities representing shares of common stock 234,842 at December 31, 2025 and 258,432 at December 31, 2024) were excluded from the computation of diluted earnings per share, because their effect would have been antidilutive.

Historical Timeline

Fiscal YearFiled
2025Mar 24, 2026Showing above
2024Mar 17, 2025
2023Mar 15, 2024
2022Mar 31, 2023
2021Mar 16, 2022
2020Mar 16, 2021
2019Mar 16, 2020
2018Mar 18, 2019
2017Mar 16, 2018
2016Mar 16, 2017
2015Mar 15, 2016

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.