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Earnings Per Share | 12 Months Ended
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Dec. 31, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Note 9. Earnings Per Share The following table sets forth the computation of the basic and diluted earnings per common share for the years ended December 31, 2024, 2023 and 2022 (in thousands except shares and per share information):
|  | Year Ended |  |  | Year Ended |  |  | Year Ended |
|  | December 31, 2024 |  |  | December 31, 2023 |  |  | December 31, 2022 |
Earnings per common share - basic |  |  |  |  |  |  |  |  |
Numerator for basic earnings per share |  | $ | 115,596 |  |  | $ | 76,893 |  |  | $ | (30,375 | )
Denominator for basic weighted average shares |  |  | 52,705,732 |  |  |  | 38,910,150 |  |  |  | 31,672,089 |
Earnings/(Loss) per common share - basic |  | $ | 2.19 |  |  | $ | 1.98 |  |  | $ | (0.96 | )
Earnings per common share - diluted |  |  |  |  |  |  |  |  |
Numerator for increase in net assets per share |  |  | 115,596 |  |  |  | 76,893 |  |  |  | (30,375 | )
Adjustment for interest expense, fees, and deferred financing costs on Convertible Notes(1) |  |  | 3,645 |  |  |  | 3,639 |  |  |  | — |
Numerator for diluted earnings per share |  |  | 119,241 |  |  |  | 80,532 |  |  |  | (30,375 | )
Denominator for basic weighted average shares |  |  | 52,705,732 |  |  |  | 38,910,150 |  |  |  | 31,672,089 |
Adjustment for dilutive effect of Convertible Notes(1) |  |  | 4,023,116 |  |  |  | 3,795,725 |  |  |  | — |
Denominator for diluted weighted average shares |  |  | 56,728,848 |  |  |  | 42,705,875 |  |  |  | 31,672,089 |
Earnings/(Loss) per common share - diluted |  | $ | 2.10 |  |  | $ | 1.89 |  |  | $ | (0.96 | )
(1) No adjustments for interest or incremental shares were included for the year ended December 31, 2022 because the effect would be antidilutive. In certain circumstances, at the Company's election, the Convertible Notes will be convertible into cash, shares of the Company’s common stock or a combination of cash and shares of the Company’s common stock, which can be dilutive to common stockholders. Diluted earnings (loss) available to each share of common stock outstanding during the reporting period included any additional shares of common stock that would be issued if all potentially dilutive securities were exercised. In accordance with ASU 2020-06, the Company is required to disclose diluted EPS using the if-converted method that assumes conversion of convertible securities at the beginning of the reporting period and is intended to show the maximum dilution effect to common stockholders regardless of how the conversion can occur. For additional information, see “Note 15 – Subsequent Events.”

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