v3.25.1
Net Income per Share
 3 Months Ended
Mar. 28, 2025
Earnings Per Share [Abstract]  
Net Income per Share Net Income per Share
 
Basic net income per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted net income per share adjusts basic net income per share for all the potentially dilutive shares outstanding during the period. When the Company’s convertible notes are dilutive, interest on the convertible notes, net of tax, is added back to net income in order to calculate diluted earnings available to common shareholders.

The following table sets forth the computation of basic and diluted net income per common share:
 Thirteen Weeks Ended
 March 28, 2025March 29, 2024
Net income per share:  
Basic$0.27 $0.05 
Diluted$0.25 $0.05 
Weighted average common shares:  
Basic38,695,791 37,820,725 
Diluted46,091,441 38,626,885 

Reconciliation of net income per common share:
 Thirteen Weeks Ended
 March 28, 2025March 29, 2024
Numerator:  
Net income$10,288 $1,931 
Add effect of dilutive securities  
Interest on convertible notes, net of tax1,212 — 
Net income available to common shareholders$11,500 $1,931 
Denominator:  
Weighted average basic common shares outstanding38,695,791 37,820,725 
Dilutive effect of unvested common shares827,795 756,440 
Dilutive effect of stock options and warrants72,885 49,720 
Dilutive effect of convertible notes6,494,970 — 
Weighted average diluted common shares outstanding46,091,441 38,626,885 
 
Potentially dilutive securities that have been excluded from the calculation of diluted net income per common share because the effect is anti-dilutive are as follows:
 Thirteen Weeks Ended
 March 28, 2025March 29, 2024
Restricted share awards (“RSAs”) and restricted stock units (“RSUs”)114,866 146,810 
Convertible notes— 7,392,817