XML 32 R22.htm IDEA: XBRL DOCUMENT

Note 16 - Earnings Per Share

9 Months Ended

Aug. 31, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

16.

EARNINGS PER SHARE

For the three and nine months ended August 31, 2024, the Company recorded net income and, as such, used diluted weighted-average common shares outstanding when calculating diluted income per share for the three and nine months ended August 31, 2024. Stock options and RSUs that could potentially dilute basic earnings per share (“EPS”) in the future are included in the computation of diluted income per share.

For the three and nine months ended August 31, 2023, the Company recorded net loss available to common shareholders. As such, because the dilution impact from potential common shares was antidilutive, the Company used basic weighted-average common shares outstanding, rather than diluted weighted-average common shares outstanding when calculating diluted loss per share for the three and nine months ended August 31, 2023.

The following table sets forth the allocation of net income (loss) for the three and nine months ended August 31, 2024 and 2023, respectively:

		*For the Three Months Ended*								*For the Nine Months Ended*
		*August 31,*								*August 31,*
		*2024*				*2023*				*2024*				*2023*
Net income (loss)		$	1,025			$	(4,094	)		$	3,120			$	(7,363	)

Weighted-average number of shares used in computing net income (loss) per share, basic			22,758,155				21,960,163				22,509,018				21,895,815
Net income (loss) per share - basic		$	0.05			$	(0.19	)		$	0.14			$	(0.34	)
Weighted-average number of shares used in computing net income (loss) per share, diluted			23,410,159				21,960,163				23,072,498				21,895,815
Net income (loss) per share - diluted		$	0.04			$	(0.19	)		$	0.14			$	(0.34	)

The following table reconciles the weighted-average common shares outstanding used in the calculation of basic EPS to the weighted-average common shares outstanding used in the calculation of diluted EPS for the three and nine months ended August 31, 2024 and 2023:

		*For the Three Months Ended*								*For the Nine Months Ended*
		*August 31,*								*August 31,*
		*2024*				*2023*				*2024*				*2023*
Weighted-average common shares outstanding- basic			22,758,155				21,960,163				22,509,018				21,895,815
Assumed conversion of:
Dilutive stock options			135,886				—				113,617				—
Dilutive RSUs			516,118				—				449,863				—
Weighted-average common share outstanding- diluted			23,410,159				21,960,163				23,072,498				21,895,815

The following potential common shares, presented based on amounts outstanding at each period end, were excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect:

		*For the Three Months Ended*								*For the Nine Months Ended*
		*August 31,*								*August 31,*
		*2024*				*2023*				*2024*				*2023*
Options			437,666				1,452,499				437,666				1,452,499
RSUs			16,513				499,502				41,513				499,502
Total			454,179				1,952,001				479,179				1,952,001