We compute earnings per share (“EPS”) in accordance with the provisions of Accounting Standards Codification Topic 260, Earnings Per Share. Basic EPS is calculated by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding during the reporting period.

Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised, converted, or otherwise resulted in the issuance of common shares that participate in our earnings.

The following table presents a reconciliation of net income and the number of common shares used in the calculation of basic and diluted EPS for the three months ended August 2, 2025, and July 27, 2024:


	Three Months Ended
	August 2, 2025		July 27, 2024
Earnings per share - basic
Net income (loss)	$	16,470	$	(4,946)
Weighted average shares outstanding	48,902		46,311
Basic earnings per share	$	0.34	$	(0.11)

Earnings per share - diluted
Net income (loss)	$	16,470	$	(4,946)


Diluted net income	$	16,470	$	(4,946)

Weighted average common shares outstanding	48,902		46,311
Dilution associated with stock compensation plans	834		—

Weighted average common shares outstanding, assuming dilution	49,736		46,311

Diluted earnings per share	$	0.33	$	(0.11)

During the three months ended August 2, 2025, 29 shares of potential common stock related to stock-based compensation plans were excluded from the computation of diluted EPS because their inclusion would have been anti-dilutive. These excluded shares include options to purchase 24 shares of common stock with a weighted average exercise price of $11.87.

For the three months ended July 27, 2024, options to purchase 161 shares of common stock with a weighted average exercise price of $12.52 were excluded from the computation of diluted EPS due to their anti-dilutive effect. Additionally, 4,037 potential shares of common stock issuable upon conversion of a senior secured convertible promissory note dated as of May 11, 2023 issued by the Company to Alta Fox Opportunities Fund, LP (“Alta Fox Opportunities”) during fiscal 2024 (the “Convertible Note”) in exchange for the payment by Alta Fox Opportunities to the Company of $25,000, which was convertible into shares of the Company’s common stock, were excluded from the diluted EPS calculation for the same period, as their inclusion would have been anti-dilutive.