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EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2024

EARNINGS PER SHARE

EARNINGS PER SHARE

15. EARNINGS PER SHARE

The following represents the calculation of earnings (loss) per share (in thousands, except per share amounts):

​	​	​	​	​	​	​
​	​	Years Ended December 31,
​		2024			2023
Basic:	​	​	​	​	​	​
Net loss	​	$	(31,882)	​	$	(3,048)
Less: Preferred stock dividend	​	​	(32,219)	​	​	(12,047)
Less: Undistributed earnings allocable to preferred stockholders	​	​	—	​	​	—
Net (loss) income available to common stockholders	​	$	(64,101)	​	$	(15,095)
Weighted average basic number of common shares outstanding basic	​	​	16,457	​	​	16,441
Basic net (loss) income per share of common stock	​	$	(3.90)	​	$	(0.92)
​	​	​	​	​	​	​
Diluted:	​	​	​	​	​	​
Net (loss) income available to common stockholders basic	​	$	(64,101)	​	$	(15,095)
Reallocation of undistributed earnings	​	​	—	​	​	—
Net (loss) income available to common stockholders diluted	​	$	(64,101)	​	$	(15,095)
Weighted average basic number of common shares outstanding	​	​	16,457	​	​	16,441
Common stock equivalent shares representing shares issuable upon:	​	​	​	​	​	​
Exercise of stock options	​	​	Anti-dilutive	​	​	Anti-dilutive
Vesting of restricted stock units	​	​	Anti-dilutive	​	​	Anti-dilutive
Weighted average diluted number of common shares outstanding diluted	​	​	16,457	​	​	16,441
Diluted net income (loss) per share of common stock	​	$	(3.90)	​	$	(0.92)

​

For the year ended December 31, 2024, common stock equivalents, including stock options and certain restricted stock units, totaling 0.2 million weighted-average shares were anti-dilutive and not included in the computation of diluted earnings per share of common stock. For the year ended December 31, 2023, common stock equivalents, including stock options and certain restricted stock units, totaling 0.5 million weighted-average shares were anti-dilutive and not included in the computation of diluted earnings per share of common stock. Additionally, the Company also has less than 0.1 million restricted stock units that vest only upon achievement of certain business combination goals as further described in Note 13, “Stockholder’s Equity”.

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- Definition

The entire disclosure for earnings per share.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//260/tableOfContent

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-3

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