Loss Per Share

6 Months Ended

Jun. 30, 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 187,351 for the three months ended June 30, 2025 were excluded from diluted loss per share because the effect would be anti-dilutive. Potential dilutive shares of 149,292 and 265,815 for the six months ended June 30, 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 June 30,		Six months ended June 30,
	2025	2024	2025	2024
Basic weighted-average Common Shares outstanding	27,788,367	27,610,756	27,734,145	27,570,014
Effect of dilutive shares	—	241,871	—	—
Diluted weighted-average Common Shares outstanding	27,788,367	27,852,627	27,734,145	27,570,014

There were 972,099 and 646,500 performance-based right to receive Common Shares outstanding at June 30, 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.