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Earnings Per Share | 3 Months Ended
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Mar. 31, 2025
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share Basic earnings per common share is calculated by dividing net income by the weighted average number of common shares outstanding for the period. Diluted earnings per common share is calculated by dividing the adjusted net income by the weighted average number of common shares outstanding combined with dilutive common share equivalents outstanding, if the effect is dilutive. For the three months ended March 31, 2025 and 2024, there were no adjustments to net income. Potentially dilutive common share equivalents consist of incremental shares of common stock issuable upon exercise of the June 2022 Warrants and vesting and settlement of stock awards. The dilutive effect of non-vested stock issued under share‑based compensation plans, shares issuable under the Employee Stock Purchase Plan, employee stock options outstanding, and the June 2022 Warrants are computed using the treasury stock method. The calculation of the basic and diluted earnings per share for the three months ended March 31, 2025 and 2024 is as follows (in thousands):
|  |  | Three months ended March 31, |
|  |  |  |  | 2025 |  | 2024 |
Numerator: |  |  |  |  |  |  |  |
Net income for basic and diluted earnings per share |  |  |  |  | $ | 5,380 |  |  | $ | 1,562 |  |
Denominator: |  |  |  |  |  |  |  |
Basic weighted average shares outstanding |  |  |  |  | 29,683 |  |  | 29,431 |  |
Dilutive effect of the June 2022 warrants |  |  |  |  | 1,664 |  |  | 779 |  |
Dilutive effect of stock options and restricted shares |  |  |  |  | 405 |  |  | 106 |  |
Diluted weighted average shares outstanding |  |  |  |  | 31,752 |  |  | 30,316 |  |
Basic earnings per share |  |  |  |  | $ | 0.18 |  |  | $ | 0.05 |  |
Diluted earnings per share |  |  |  |  | $ | 0.17 |  |  | $ | 0.05 |  |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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