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Earnings per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Earnings per Share

(4) Earnings per Share

 

Options to purchase approximately 2,466,956 of common stock that were outstanding as of September 30, 2025 were excluded in the computation of diluted earnings per share for the three months ended September 30, 2025 as it would be anti-dilutive. Options to purchase approximately 2,476,123 shares of common stock that were outstanding as of September 30, 2025 were included in the computation of diluted earnings per share for the nine months ended September 30, 2025. Options to purchase approximately 2,062,000 of common stock that were outstanding as of September 30, 2024 were included in the computation of diluted earnings per share for the three months ended September 30, 2024. Options to purchase approximately 1,947,000 shares of common stock that were outstanding as of September 30, 2024 were included in the computation of diluted earnings per share for the nine months ended September 30, 2024. 

 

 

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 September 30,   Nine months ended September 30, 
   2025   2024   2025   2024 
                 
Numerator: (in Thousands)                    
Net (loss) income  $(1,120)  $3,045   $1,627   $4,793 
                     
Denominator:                    
Weighted average number of basic shares outstanding   70,500,925    69,873,394    70,269,539    59,778,119 
Weighted average additional shares assuming conversion of in-the-money stock options to common shares and assumed repurchase of common shares by the Company   —    2,062,000    2,476,123    1,947,000 
Weighted average number of diluted common shares outstanding   70,500,925    71,935,394    72,745,662    61,725,119 
                     
Basic earnings per common share:                    
Net (loss) income per share – basic  $(0.02)  $0.04   $0.02   $0.08 
Diluted earnings per common share:                    
Net (loss) income  per share – diluted  $(0.02)  $0.04   $0.02   $0.08