Net Income Per Share

3 Months Ended

Mar. 31, 2025

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 net income per share for the following periods (in thousands, except per share amounts):


	Three Months Ended March 31,
		2025		2024
Numerator:
Net income		$	4,539	$	468

Denominator:
Weighted-average shares outstanding		12,229		12,475
Effect of dilutive securities		11		21
Weighted-average diluted shares		12,240		12,496

Basic net income per share		$	0.37	$	0.04
Diluted net income per share		$	0.37	$	0.04

For the three months ended March 31, 2025 and 2024, outstanding options to purchase shares of common stock in an aggregate of approximately 38,000 and 47,000, respectively, have been excluded from the calculation of diluted net income per share, as such securities were anti-dilutive.