Three Months Ended

March 31,

2025

2024

Basic:

Net income (loss)

$

6,023

$

(31,203)

Less: Preferred stock dividend

(11,820)

(5,632)

Less: Undistributed earnings allocable to preferred stockholders

—

Net income (loss) available to common stockholders

$

(5,797)

$

(36,835)

Weighted average basic number of common shares outstanding basic

16,457

Basic net income (loss) per share of common stock

$

(0.35)

$

(2.24)

Diluted:

Net income (loss) available to common stockholders basic

$

(5,797)

$

(36,835)

Reallocation of undistributed earnings

—

Net income (loss) available to common stockholders diluted

$

(5,797)

$

(36,835)

Weighted average basic number of common shares outstanding basic

16,457

Common stock equivalent shares representing shares issuable upon:

Exercise of stock options

Anti-dilutive

Vesting of restricted stock units

Anti-dilutive

Weighted average diluted number of common shares outstanding diluted

16,457

Diluted net income (loss) per share of common stock

$

(0.35)

$

(2.24)