Earnings Per Share

12 Months Ended

Dec. 31, 2025

Note 14. Earnings Per Share

The following table shows the calculation of basic and diluted EPS and the weighted average number of shares outstanding used in computing EPS and the effect on the weighted average number of shares outstanding of potentially dilutive common stock for the periods presented. Also shown are the weighted average number of shares

of potentially dilutive securities that were excluded from the calculation of diluted EPS for the periods presented because their effect would been anti-dilutive.


	For the year ended December 31,
(Dollars in thousands, except per share data)	2025		2024
Net income (loss)	$	10,709	$	(15,385	)

Weighted average common shares outstanding, basic		87,719,189		49,123,861
Potentially dilutive securities
PSAs		175,840		—
Warrants		9,362,847		—
Weighted average common shares outstanding, dilutive		97,257,876		49,123,861

Basic earnings (loss) per common share	$	0.12	$	(0.31	)
Diluted earnings (loss) per common share	$	0.11	$	(0.31	)

Weighted average anti-dilutive securities excluded from diluted EPS
PSAs		1,207		92,369
Stock options		21,138		29,919
Warrants		—		2,916,792
Total weighted average anti-dilutive securities		22,345		3,039,080