Net Income Per Share

12 Months Ended

Dec. 31, 2024

Basic net income per share is computed using the weighted-average number of outstanding shares of common stock. Diluted net income per share is computed using the weighted-average number of outstanding shares of common stock, and when dilutive, shares of common stock issuable upon exercise of options and warrants deemed outstanding using the treasury stock method.

The following table shows the computation of basic and diluted earnings per share for the following (in thousands, except per share amounts):


	Year Ended December 31,
	2024		2023
Numerator:
Net income	$	13,488	$	15,887

Denominator:
Weighted-average shares outstanding	12,369		12,653
Effect of dilutive securities	82		43
Weighted-average diluted shares	12,451		12,696

Basic net income per share	$	1.09	$	1.26
Diluted net income per share	$	1.08	$	1.25

As of December 31, 2024 and 2023, outstanding options to purchase shares of common stock and outstanding shares of restricted stock in an aggregate of approximately 158,000 and 122,000, respectively, have been excluded from the calculation of diluted net income per share, as such securities were anti-dilutive.