Net Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2026


NOTE 10. Net Income (Loss) Per Common Share

Basic net income (loss) per common share (“EPS”) is computed based upon the weighted average number of common shares outstanding. Diluted net income (loss) per common share is computed based upon the weighted average number of common shares outstanding plus the impact of common shares issuable from the assumed conversion of stock options, certain performance restricted stock units, and unvested restricted stock units. Only those instruments having a dilutive impact on basic net income (loss) per share are included in diluted net income (loss) per share during the periods presented.

The following table illustrates the computation of basic and diluted EPS (in thousands, except per share amounts):


	Three Months Ended March 31,
		2026		2025
Numerator
Income (loss) from continuing operations		$	29,916	$	(1,888)


Income (loss) from discontinued operations		19,000		14,000
Net income (loss) attributable to common stockholders		$	48,916	$	12,112
Denominator
Weighted average shares outstanding – basic		16,599		16,517
Weighted average shares outstanding – diluted		16,662		16,517
Basic earnings per common share:
Continuing operations		$	1.80	$	(0.11)
Discontinued operations		1.15		0.84
Net income (loss) attributable to common shares		$	2.95	$	0.73

Diluted earnings per common share:
Continuing operations		$	1.80	$	(0.11)
Discontinued operations		1.14		0.84
Net income (loss) attributable to common shares		$	2.94	$	0.73

The following table provides the potential shares of common stock that were excluded from the calculation of diluted net income (loss) per share attributable to common stockholders because their effect would have been anti-dilutive (in thousands):


	March 31,
	2026	2025
Stock options	882	644
Restricted stock units	353	667