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Net Income Per Share (Tables)
3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Net Income Per Share
The following table presents the calculation of basic and diluted net income per share:

For the three months ended March 31,
20242023
Numerator:
Net income$8,007,005 $1,724,546 
Denominator*:
Basic shares:
Weighted-average shares outstanding5,660,199 5,480,673 
Diluted shares:
Stock options87,178 67,741 
Restricted stock units173,457 — 
Warrants39,934 8,416 
Weighted-average shares outstanding5,960,768 5,556,830 
Net income per share:
Basic$1.41 $0.31 
Diluted$1.34 $0.31 

*Effective May 11, 2023, we performed a 1-for-38 reverse stock split. Share amounts have been retroactively restated.