Net Income (Loss) Per Common Share

12 Months Ended

Dec. 31, 2024

Basic net income (loss) per share is computed based on the weighted average number of common shares outstanding. Diluted net income (loss) per share is computed based on the weighted average number of common shares outstanding, increased by the number of additional shares that would have been outstanding had the potentially dilutive common shares been issued and reduced by the number of shares the Company could have repurchased from the proceeds from issuance of the potentially dilutive shares. Potentially dilutive shares of common stock include stock options and other stock-based awards granted under stock-based compensation plans and shares committed to be purchased under the employee stock purchase plan. For the years ended December 31, 2024, 2023 and 2022 respectively, 451,029, 263,992 and 197,827 anti-dilutive options were excluded from the calculation of diluted weighted average shares outstanding.

The following table presents the calculation of net income (loss) per basic and diluted share attributable to common shareholders:



	Year Ended December 31,
(in thousands, except share and per share amounts)	2024		2023		2022

Net income (loss)	$	16,593	$	17,220	$	(103,462)

Basic - weighted-average shares outstanding:	25,096,117		26,186,533		27,409,838
Effect of dilutive securities:
Employee stock options and other	116,061		36,965		—
Diluted - weighted-average shares outstanding:	25,212,178		26,223,498		27,409,838
Net income (loss) per share attributable to common shareholders:
Basic	$	0.66	$	0.66	$	(3.77)
Diluted	$	0.66	$	0.66	$	(3.77)