Basic earnings (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Except when the effect would be anti-dilutive, diluted earnings (loss) per share is calculated based on the weighted average number of shares of common stock outstanding plus the dilutive effect of share-based awards calculated

under the treasury stock method. In periods when the Company incurs a net loss, share-based awards are excluded from the calculation of diluted earnings per share as their inclusion would have an anti-dilutive effect.

The following is a reconciliation of weighted average basic shares to weighted average diluted shares outstanding:


	Fiscal Year
	2025		2024
Weighted-average shares—basic		12,978,284		12,579,588
Effect of dilutive equity securities		97,503		—
Weighted-average shares—diluted		13,075,787		12,579,588

For the fiscal year ended January 31, 2026, 300,280 of weighted average shares were excluded from the computation of weighted average shares for diluted earnings per share, as their effect would have been anti-dilutive.

Because the Company incurred a net loss for the fiscal year ended February 1, 2025, weighted-average basic shares and weighted-average diluted shares outstanding are equal for this period.