Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2025

Note 14. Net Income (Loss) Per Share

Basic weighted-average shares outstanding excludes nonvested restricted stock. Diluted weighted average shares outstanding is similar to basic weighted-average shares outstanding, except that the weighted-average number of shares is increased to include the number of additional common shares that would have been outstanding if the potentially dilutive common share had been issued, including the dilutive impact of nonvested restricted stock. The potentially dilutive securities outstanding during the three and six months ended June 30, 2025, had an anti-dilutive effect and were therefore not included in the calculation of diluted net income (loss) per share. Basic and diluted net income (loss) per share was calculated as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025			2024
Basic net income (loss) per share	$	0.00	$	0.01	$	(0.24	)	$	(0.01	)
Diluted net income (loss) per share	$	0.00	$	0.01	$	(0.24	)	$	(0.01	)
Numerator:
Net income (loss) (in thousands)	$	308	$	1,861	$	(40,886	)	$	(1,047	)
Denominator:
Weighted average number of shares outstanding - basic		173,288,662		143,863,667		172,930,881			143,727,612
Add stock options to purchase shares and restricted stock units		1,780,789		1,992,445		—			—
Weighted average number of shares outstanding - diluted		175,069,451		145,856,112		172,930,881			143,727,612

For the three months ended June 30, 2025 and 2024, a total of 2,125,020 and 901,391 stock options, RSUs, and restricted stock awards were excluded from the calculation of diluted net income per share, respectively, because their effect was anti-dilutive. For the six months ended June 30, 2025 and 2024, a total of 3,938,915 and 2,974,538 stock options, RSUs, and restricted stock awards were excluded from the calculation of diluted net loss per share, respectively, because their effect was anti-dilutive.