Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of Cash and Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash as reported in the unaudited condensed consolidated balance sheets that totals to the amounts shown in the unaudited condensed consolidated statements of cash flows at the dates indicated (in thousands):


	March 31,		December 31,
	2024		2023

Cash and cash equivalents	$	36,603	$	33,256
Restricted cash:
Collateral for outstanding letters of credit (1)	112		111
Captive insurance subsidiary (2)	11,552		11,879
Total cash, cash equivalents and restricted cash shown in the
unaudited condensed consolidated statements of cash flows	$	48,267	$	45,246

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(1)Represents amounts that are held in a segregated bank account by Wells Fargo Bank as collateral for an outstanding letter of credit.

(2)$1.5 million of the restricted cash balance relates to the initial capitalization of our captive insurance company formed in late 2020, and the remainder primarily represents cash amounts held by our captive insurance company for insurance premiums.

Schedule of Common Stock Outstanding

The following table reconciles our outstanding common stock for the periods indicated:


						Common
						shares

Balance, January 1, 2024						2,547,154
Vesting of restricted stock unit awards (see Note 11)						19,334
Vesting of performance share unit awards (see Note 11)						6,318
Shares withheld to cover taxes upon vesting of equity awards						(6,157)

Balance, March 31, 2024						2,566,649

Schedule of Earnings Per Share, Basic and Diluted

A reconciliation of the calculation of basic and diluted earnings (losses) per share was as follows for the periods indicated (in thousands, except per share data):


	Three Months Ended
	March 31,
	2024		2023
Earnings (Losses) per share — numerator:
Net losses	$	(498)	$	(1,999)

Denominator:
Basic weighted average number of shares outstanding	2,554		2,517

Basic net losses per share	$	(0.19)	$	(0.79)

Diluted earnings per share:
Diluted weighted average number of shares outstanding:
Common shares	2,554		2,517
Restricted stock unit awards (1)	—		—
Performance share unit awards (1) (2)	—		—
Total diluted shares	2,554		2,517

Diluted net losses per share	$	(0.19)	$	(0.79)

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(1)For the three months ended March 31, 2024 and 2023, the effect of the restricted stock unit awards and the performance share unit awards on losses per share was anti-dilutive.

(2)The dilutive effect of performance share awards is included in the calculation of diluted earnings per share when the performance share award performance conditions have been achieved.