Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2024

Note 8. Net Income (Loss) Per Share

The following table sets forth the computation of basic and diluted net income (loss) per share of common stock attributable to common stockholders:


	Year Ended
	December 31,
	2024		2023			2022
	(in thousands, except per-share data)
Net income (loss)	$	16,183	$	(17,679	)	$	(59,546	)

Weighted average common shares outstanding — Basic		20,022		17,135			16,450
Plus incremental shares from assumed conversions:
Dilutive effect of restricted stock		175		—			—
Dilutive effect of stock options		222		—			—
Dilutive effect of warrants		413		—			—
Weighted average common shares outstanding — Diluted		20,832		17,135			16,450
Net income (loss) per share:
Basic	$	0.81	$	(1.03	)	$	(3.62	)
Diluted	$	0.78	$	(1.03	)	$	(3.62	)

Incremental shares from stock options and restricted stock awards are computed by the treasury stock method. The weighted average shares listed below were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented or were otherwise excluded under the treasury stock method. The treasury stock method calculates dilution assuming the exercise of all in-the-money options and vesting of restricted stock, reduced by the repurchase of shares with the proceeds from the assumed exercises, unrecognized compensation expense for outstanding awards and the estimated tax benefit of the assumed exercises.


		Year Ended
		December 31,
		2024		2023		2022
	(in thousands)
Stock options			361		1,374		1,669
Unvested restricted stock awards			300		1,404		1,449
Total weighted average shares not included			661		2,778		3,118