Net Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2025

14. Net Income (Loss) Per Common Share

The following is a reconciliation of the weighted average shares outstanding used to compute basic and diluted net income (loss) per common share:


	Three Months Ended March 31,
	2025		2024
Basic weighted average common shares outstanding		35,273,783		35,265,449
Effect of dilutive securities - equity compensation awards		—		795,191
Diluted weighted average common shares outstanding		35,273,783		36,060,640

Equity compensation awards for which total employee proceeds from exercise exceed the average fair value of the same equity incentive instrument over the period have an anti-dilutive effect on earnings per share during periods with net income, and accordingly, are excluded from diluted weighted average common shares outstanding. Due to the net loss incurred during the three months ended March 31, 2025, the assumed exercise of all equity instruments was anti-dilutive and, therefore, not included in the net diluted income (loss) per share calculations for the period. Anti-dilutive equity instruments of 497,801 common shares were excluded from the computation of diluted net earnings per share for the three months ended March 31, 2024.

No cash dividends were declared or paid during the three months ended March 31, 2025 and 2024.