Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2022

Schedule of basic and diluted per share results

	For the Three Months Ended				For the Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Net income (loss)	$	1,116	$	(3,547)	$	4,207	$	(5,466)
Weighted average shares outstanding for computation of basic per share results		10,192		7,724		10,188		7,231
Incremental shares from assumed exercise of stock options and warrants and the grant of restricted stock units (a)		100		—		177		—
Adjusted weighted average shares for computation of diluted per share results		10,292		7,724		10,365		7,231

(a) Incremental shares from the assumed exercise of INDUS stock options are not included in periods where the inclusion of such shares would be anti-dilutive. The incremental shares from the assumed exercise of stock options and warrants for the three months and nine months ended September 30, 2021 would have been 175 and 150, respectively.

Schedule of unrecognized compensation expense related to nonvested stock options

Balance of 2022	$	90
2023	$	231
2024	$	111
2025	$	15

Schedule of option holders

Number of option holders at September 30, 2022 14

Summary of the activity under the INDUS Stock Option Plan

	For the Nine Months Ended
	September 30, 2022			September 30, 2021
	Number of		Weighted Avg.	Number of		Weighted Avg.
	Shares		Exercise Price	Shares		Exercise Price
Outstanding at beginning of period	220,937	$	36.47	246,150	$	36.06
Adjustment for stock dividend	—	$	—	5,413	$	34.29
Exercised	(5,600)	$	26.31	(15,422)	$	26.37
Forfeited	(3,635)	$	27.50	(1,067)	$	37.49
Outstanding at end of period	211,702	$	36.89	235,074	$	35.85

Schedule of options by range of exercise prices

				Weighted Avg.
				Remaining
Range of Exercise Prices for	Outstanding at	Weighted Avg.		Contractual Life	Total Intrinsic
Outstanding Options	September 30, 2022	Exercise Price		(in years)	Value
$23.00 - $28.00	74,663	$	26.29	3.5	$	1,947
$28.00 - $32.00	14,073	$	29.84	2.8		317
$32.00 - $47.00	122,966	$	44.13	7.3		1,014
	211,702	$	36.89	5.7	$	3,278
Vested options	109,492	$	28.88	4.1	$	2,572

Summary of company's common dividends

Quarter Ended	Record Date	Payment Date	Common dividend per share
March 31, 2022	March 31, 2022	April 15, 2022	$0.16
June 30, 2022	June 30, 2022	July 15, 2022	$0.16
September 30, 2022	September 30, 2022	October 14, 2022	$0.16

Restricted Stock Units (RSUs)

Schedule of unrecognized compensation expense related to nonvested stock options

Balance of 2022	$	307
2023	$	830
2024	$	359
2025	$	585

Schedule of compensation expense and related tax benefits for stock options

	For the Three Months Ended				For the Nine Months Ended
	September 30, 2022		September 30, 2021		September 30, 2022		September 30, 2021
Compensation expense	$	404	$	305	$	1,085	$	810

Time Based Restricted Stock Units

Summary of activity for restricted stock units

	Time-based vesting
	September 30, 2022			September 30, 2021
	Number of		Grant Date Fair	Number of		Grant Date Fair
	Units		Value Weighted Avg.	Units		Value Weighted Avg.
Outstanding at beginning of period	12,829	$	64.43	—	$	—
Granted	13,514	$	68.68	13,191	$	64.62
Adjustment for dividends	121	$	—	47	$	—
Vested and distributed	(3,391)	$	63.97	—	$	—
Forfeited	(813)	$	63.15	(409)	$	63.15
Outstanding at end of period	22,260	$	66.78	12,829	$	64.43

Performance Shares

Summary of activity for restricted stock units

	Performance-based vesting
	September 30, 2022			September 30, 2021
	Number of		Grant Date Fair	Number of		Grant Date Fair
	Units		Value Weighted Avg.	Units		Value Weighted Avg.
Outstanding at beginning of period	8,136	$	78.97	—	$	—
Granted	7,999	$	100.19	8,508	$	79.33
Adjustment for dividends	89	$	—	37	$	—
Forfeited	(1,219)	$	79.33	(409)	$	79.33
Outstanding at end of period	15,005	$	89.79	8,136	$	78.97