Net Income (Loss) Per Common Share

6 Months Ended

Jun. 30, 2025

14. Net Income (Loss) Per Common Share

The following is a reconciliation of the weighted average shares outstanding used to compute basic and diluted net income (loss) per common share:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Basic weighted average common shares outstanding		35,452,594		35,368,492		35,363,682		35,316,971
Effect of dilutive securities - equity compensation awards		371,272		369,830		—		582,510
Diluted weighted average common shares outstanding		35,823,866		35,738,322		35,363,682		35,899,481

Equity compensation awards for which total employee proceeds from exercise exceed the average fair value of the same equity incentive instrument over the period have an anti-dilutive effect on earnings per share during periods with net income, and accordingly, are excluded from diluted weighted average common shares outstanding. Anti-dilutive equity instruments of 1,272,897 were excluded from the diluted weighted average common shares outstanding for the three months ended June 30, 2025. Due to the net loss incurred during the six months ended June 30, 2025, the assumed exercise of all equity instruments was anti-dilutive and, therefore, not included in the net diluted income (loss) per share calculations for that period. Anti-dilutive equity instruments of 1,129,475 and 813,638 common shares were excluded from the diluted weighted average common shares outstanding for the three and six months ended June 30, 2024, respectively.

No cash dividends were declared or paid during the three and six months ended June 30, 2025 and 2024.