Note 7 - Earnings Per Share

3 Months Ended

Mar. 31, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

7. Earnings Per Share

The Company calculates basic and diluted earnings per share in accordance with ASC 260, “Earnings Per Share,” using the treasury stock method. 

Basic earnings per common share excludes dilution and is calculated by dividing earnings to common shares by the weighted-average number of common shares outstanding for the period. Diluted earnings per common share is calculated by dividing earnings to common shares by the weighted-average number of common shares, as adjusted for the potentially dilutive effect of stock options, and unvested RSUs and PRSUs. RSAs are included in shares outstanding on the date of grant.

The following table reconciles earnings (loss) per share:

	Three Months Ended March 31,
	2024			2023
Basic Earnings (Loss) per Share:
Net loss — basic	$	(10,338	)	$	(14,040	)
Weighted average shares outstanding — basic		20,730			20,093
Basic loss per share	$	(0.50	)	$	(0.70	)
Diluted Earnings (Loss) per Share:
Net loss — diluted	$	(10,338	)	$	(14,040	)
Weighted average shares outstanding — diluted		20,730			20,093
Diluted loss per share	$	(0.50	)	$	(0.70	)

The following table indicates the stock equivalents related to stock options and unvested RSUs and PRSUs that were anti-dilutive and excluded from diluted earnings (loss) per share calculations:

	Three Months Ended March 31,
	2024		2023
Anti-dilutive shares due to:
Exercise prices higher than the average market price		—		51
Net loss		206		59