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Earnings per Share

6 Months Ended

Jun. 30, 2025

Earnings Per Share [Abstract]

Earnings per Share

(4) Earnings per Share

Options to purchase approximately 2,348,780 of common stock that were outstanding as of June 30, 2025 were included in the computation of diluted earnings per share for the three months ended June 30, 2025. Options to purchase approximately 2,345,901 shares of common stock that were outstanding as of June 30, 2025 were included in the computation of diluted earnings per share for the six months ended June 30, 2025, respectively. Options to purchase approximately 2,035,000 of common stock that were outstanding as of June 30, 2024 were included in the computation of diluted earnings per share for the three months ended June 30, 2024. Options to purchase approximately 1,987,000 shares of common stock that were outstanding as of June 30, 2024 were included in the computation of diluted earnings per share for the six months ended June 30, 2024, respectively.

Earnings applicable to common stock and common stock shares used in the calculation of basic and diluted earnings per share are as follows:


		Three months ended June 30,								Six months ended June 30,
		2025				2024				2025				2024

Numerator: (in Thousands)
Net income		$	2,667			$	856			$	2,747			$	1,747

Denominator:
Weighted average number of basic shares outstanding			70,200,039				56,674,170				70,151,928				54,675,011
Weighted average additional shares assuming conversion of in-the-money stock options to common shares and assumed repurchase of common shares by the Company			2,380,640				2,035,000				2,346,001				1,987,000
Weighted average number of diluted common shares outstanding			72,580,679				58,709,170				72,497,929				56,662,011

Basic earnings per common share:
Net income (loss) per share – basic		$	0.04			$	0.02			$	0.04			$	0.03
Diluted earnings per common share:
Net income (loss) per share – diluted		$	0.04			$	0.01			$	0.04			$	0.03