Net Income Per Share

3 Months Ended

Mar. 31, 2026

12. Net Income Per Share

Basic net income per share is computed on the basis of the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed based upon the weighted-average number of common shares outstanding during the period plus the assumed issuance of common shares for all potentially dilutive securities.

The net income used in the calculation of basic and diluted net income per share is as follows:


		Three months ended March 31,
		2026			2025
Net income		$	729,425		$	4,016,034

In calculating the net income per share, basic and diluted, the following weighted-average shares were used:


		Three months ended March 31,
		2026		2025
Basic weighted-average number of shares outstanding		30,239,980		22,008,766
Unvested time-based restricted shares		22,486		101,053
Diluted weighted-average shares outstanding		30,262,466		22,109,819

The Company excluded the following shares from the diluted EPS because their inclusion would have been anti-dilutive.


		Three months ended March 31,
		2026		2025
Anti-dilutive unvested time-based restricted shares		759,306		459,917