Loss Per Share

3 Months Ended

Mar. 31, 2025

Basic loss per share was computed by dividing net loss by the weighted-average number of Common Shares outstanding for each respective period. Diluted loss per share was calculated by dividing net loss by the weighted-average of all potentially dilutive Common Shares that were outstanding during the periods presented. However, for all periods in which the Company recognized a net loss, the Company did not recognize the effect of the potential dilutive securities as their inclusion would be anti-dilutive. Potential dilutive shares of 136,118 and 298,592 for the three months ended March 31, 2025 and 2024, respectively, were excluded from diluted loss per share because the effect would be anti-dilutive.

Weighted-average Common Shares outstanding used in calculating basic and diluted earnings per share were as follows:


	Three months ended March 31,
	2025	2024
Basic weighted-average Common Shares outstanding	27,679,924	27,528,831
Effect of dilutive shares	—	—
Diluted weighted-average Common Shares outstanding	27,679,924	27,528,831

There were 1,002,950 and 660,124 performance-based right to receive Common Shares outstanding at March 31, 2025 and 2024, respectively. The right to receive Common Shares are included in the computation of diluted earnings per share, to the extent they are not anti-dilutive, based on the number of Common Shares that would be issuable if the end of the quarter were the end of the performance period.