The computation of basic and diluted net income per share of common stock is as follows (in thousands, except for per share data): | | | | | | | | | | | | | | | | | | | December 31, | | 2025 | | 2024 | | 2023 | | Net income | $ | 11,195 | | | $ | 13,299 | | | $ | 20,324 | | | Less: net income allocated to participating securities | — | | | — | | | 81 | | | Net income available to common stockholders | $ | 11,195 | | | $ | 13,299 | | | $ | 20,243 | | | | | | | | | Weighted average shares of common stock — basic | 8,569 | | | 8,693 | | | 8,550 | | | Effect of dilutive securities | 129 | | | 94 | | | 222 | | | Weighted average common and potentially issuable shares of common stock outstanding — diluted | 8,698 | | | 8,787 | | | 8,772 | | | | | | | | | Basic net income per share of common stock | $ | 1.31 | | | $ | 1.53 | | | $ | 2.37 | | | Diluted net income per share of common stock | $ | 1.29 | | | $ | 1.51 | | | $ | 2.31 | |
The computation of basic and diluted net income per participating share is as follows (in thousands, except for per share data): | | | | | | | | | | | | | | | | | | | December 31, | | 2025 | | 2024 | | 2023 | | Net income allocated to participating securities | $ | — | | | $ | — | | | 81 | | | | | | | | | Weighted average participating shares outstanding — basic | — | | | — | | | 34 | | | Effect of dilutive securities | — | | | — | | | — | | Weighted average participating and potentially issuable participating shares outstanding — diluted | — | | | — | | | 34 | | | | | | | | | Basic net income per participating share | $ | — | | | $ | — | | | $ | 2.37 | | | Diluted net income per participating share | $ | — | | | $ | — | | | $ | 2.37 | |
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