Earnings per Share

3 Months Ended

Mar. 31, 2025

Earnings per Share

Earnings per Share

Note 13 – Earnings (Loss) per Share

The following is the computation of earnings (loss) per basic and diluted share (dollars in thousands):


		Three Months Ended March 31,
		2025			2024
Basic earnings (loss) per share:
Numerator:
Net income (loss) attributable to common stockholders		$	14,634		$	(364)
Denominator:
Weighted average shares used to compute basic EPS			5,516,999			4,849,235
Basic earnings (loss) per share:		$	2.65		$	(0.08)

Diluted earnings (loss) per share:
Numerator:
Net income (loss) attributable to common stockholders		$	14,634		$	(364)
Dilutive net income attributable to common stockholders			14,963
Denominator:
Weighted average shares used to compute basic EPS			5,516,999			4,849,235
Dilutive effect of convertible note			179,500			-
Dilutive effect of common stock warrants			55,303			-
Dilutive effect of unvested restricted stock			101,534			-
Weighted average shares used to compute diluted EPS			5,853,336			4,849,235
Diluted earnings (loss) per share:		$	2.56		$	(0.08)

Due to antidilution, the computation of diluted earnings for the three months ended March 31, 2024 excludes the 27,590 common stock options (4,137,149 prior to the 2024 Reverse Stock Splits), 651,781 warrants (97,780,228 prior to the

2024 Reverse Stock Splits), 1,298 restricted stock units (194,720 prior to the 2024 Reverse Stock Splits) and 179,500 common stock (26,925,000 prior to the 2024 Reverse Stock Splits) issuable upon conversion of outstanding convertible debt.

The dilutive effect of convertible debt was calculated using the if-converted method, whereas the dilutive effect of the assumed exercise of outstanding options, warrants and unvested restricted stock was calculated using the treasury stock method.