Earnings Per Share

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Earnings Per Share

12.Earnings Per Share

The following table reconciles the denominators used in the computations of both basic and diluted earnings per share:

	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2025	2024	2025	2024
Total basic weighted average shares outstanding	39,776,096	34,494,302	39,535,151	33,390,722
Effect of potentially dilutive securities:
Common stock options	11,131	23,815	9,254	—
Employee stock purchase plan	—	563	—	—
Total diluted weighted average shares outstanding	39,787,227	34,518,680	39,544,405	33,390,722

For the three months ended September 30, 2025 and 2024, the Company had 45,325 and 187,235 shares, respectively, that were potentially dilutive in earnings per share calculations. For the nine months ended September 30, 2025 and 2024, the Company had 49,819 and 196,744 shares, respectively, that were potentially dilutive in earnings per share calculations.

Such dilution is dependent on the excess of the market price of the Company’s common stock over the exercise price and other components of the treasury stock method. The exercise price for certain stock options awarded by the Company exceeded the average market price of the Company’s common stock for the three and nine

months ended September 30, 2025 and 2024. Such stock options are anti-dilutive and are not included in the computation of diluted earnings per share for those periods.

The Company reported a net loss for the nine months ended September 30, 2024; therefore, all potentially dilutive securities are antidilutive and are excluded from the computation of diluted loss per share for that period.