Equity

9 Months Ended

Sep. 30, 2025

Equity [Abstract]

Equity

8.EQUITY

Earnings (Loss) per Share

The calculation of basic loss per share considers only weighted average outstanding common shares in the computation. The calculation of diluted earnings per share gives effect to all potentially dilutive stock options. The calculation of diluted earnings per share is based upon the weighted average number of common shares outstanding during the period, plus, if dilutive, the assumed exercise of stock options using the treasury stock method. Weighted average shares outstanding for the three and nine months ended September 30, 2025 and 2024 were as follows:

	For the three months				For the nine months
	ended September 30,				ended September 30,
Amounts in thousands	2025		2024		2025		2024
Weighted average common shares, basic		29,956		30,683		30,399		30,595
Dilutive effect of stock options		—		—		—		—
Weighted average common shares, diluted		29,956		30,683		30,399		30,595

The following stock options are anti-dilutive and have not been included in the weighted average shares outstanding calculation:

	For the three months				For the nine months
	ended September 30,				ended September 30,
Amounts in thousands	2025		2024		2025		2024
Stock options		427		396		310		287

Common Stock Repurchase Program

Since March 2000, the Company has had a discretionary program to repurchase its outstanding common stock. Beginning in May 2025, the Company has entered into 10b5-1 trading plans (the “Plans”) for the purpose of repurchasing shares of the Company’s outstanding common stock in accordance with the share repurchase program previously authorized by the Company’s Board of Directors. The Plans are intended to comply with Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. Repurchases of common stock under the Plans are being administered through an independent broker and are subject to certain price, market, volume and timing constraints specified in the Plans.

The previous 10b5-1 plan announced on May 14, 2025 expired by its terms on July 31, 2025. The Company’s current 10b5-1 trading plan was announced on August 11, 2025. The current plan authorized the repurchase of up to $2.5 million of shares of the Company’s outstanding common stock and expires by its terms on December 31, 2025. During the three and nine months ended September 30, 2025, the Company repurchased and retired 600,923 and 1,029,657 shares of the Company’s common stock for $1.5 million and $2.5 million, respectively, on the open market under the Plans. The total amount remaining under the current plan was $1.5 million as of September 30, 2025. See Part II, Item 2 of this report for additional details.