Net Income Per Share

3 Months Ended

Mar. 31, 2025

Basic net income per share is computed using the weighted-average number of common shares outstanding for the period. Diluted net income per share is computed by adjusting the weighted-average number of common shares outstanding for the effect of dilutive potential common shares outstanding during the period. Potential common shares included in the diluted calculation consist of incremental shares issuable upon the exercise of outstanding stock options calculated using the treasury stock method.

The following table sets forth the calculation of basic and diluted net income (loss) per share (in thousands, except per share amounts):


	Three Months Ended
	March 31,
	2025		2024
Numerator:
Net income attributable to Travelzoo from operations	$	3,167	$	4,236

Denominator:
Weighted average common shares—basic	11,670		13,489
Effect of dilutive securities: stock options	579		136
Weighted average common shares—diluted	12,249		13,625




Net income per share —basic	$	0.27	$	0.31




Net income per share—diluted	$	0.26	$	0.31

For the three months ended March 31, 2025 and 2024, options to purchase 0 and 50,000 shares of common stock, respectively, were not included in the computation of diluted net income per share because the effect would have been anti-dilutive.