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Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenue $ 32,558 $ 29,571 $ 64,477 $ 53,652
Cost of revenue 17,528 16,023 34,395 29,091
Gross profit 15,030 13,548 30,082 24,561
Operating expenses:        
Selling expense 4,661 4,033 9,116 7,489
Engineering and product development expense 1,983 1,859 3,887 3,783
General and administrative expense 5,042 4,928 10,217 9,759
Total operating expenses 11,686 10,820 23,220 21,031
Operating income 3,344 2,728 6,862 3,530
Interest expense (176) (141) (358) (278)
Other income (expense) 197 (17) 255 (27)
Earnings before income tax expense 3,365 2,570 6,759 3,225
Income tax expense 572 454 1,149 532
Net earnings $ 2,793 $ 2,116 $ 5,610 $ 2,693
Earnings per common share - basic (in dollars per share) $ 0.25 $ 0.20 $ 0.51 $ 0.25
Weighted average common shares outstanding - basic (in shares) 11,241,183 10,653,268 10,998,456 10,635,270
Earnings per common share - diluted (in dollars per share) $ 0.24 $ 0.20 $ 0.49 $ 0.25
Weighted average common shares and common share equivalents outstanding - diluted (in shares) 11,696,569 10,814,799 11,392,617 10,828,696