Net Income Per Share (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Net Income Per Share

The following table presents the calculation of basic and diluted net income per share:

	For the three months ended September 30,				For the nine months ended September 30,
	2024		2023		2024		2023
Numerator:
Net income	$	15,446,241	$	1,294,400	$	53,155,127	$	4,158,724
Denominator*:
Basic shares:
Weighted-average shares outstanding	5,545,353		5,667,430		5,620,754		5,576,233
Diluted shares:
Stock options	120,886		60,299		95,696		67,351
Restricted stock units	239,594		—		231,681		—
Warrants	—		1,936		—		7,637
Weighted-average shares outstanding	5,905,833		5,729,665		5,948,131		5,651,221
Net income per share:
Basic	$	2.79	$	0.23	$	9.46	$	0.75
Diluted	$	2.62	$	0.23	$	8.94	$	0.74

*Effective May 11, 2023, we performed a 1-for-38 reverse stock split. Share amounts have been retroactively restated.