v3.26.1
Note 2 - Income (Loss) Per Share
3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Earnings Per Share [Text Block]

2. Income (loss) per share

 

Basic income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding, restricted stock units ("RSUs"), and restricted common stock that have vested but not been delivered during the period. Diluted income (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and is calculated using the treasury stock method for stock options, RSUs, restricted stock, pre-funded warrants, common stock warrants, direct offering, deferred common stock, and unvested shares (see Note 7Equity, below). Stock equivalent shares are excluded from the calculation in loss periods, as their effects would be anti-dilutive. 

 

For the three months ended March 31, 2026 and 2025, basic and diluted loss per share were as follows:

 

  

Three Months Ended March 31,

 
  

2026

  

2025

 

Numerator:

        

Net loss

 $(5,354) $(8,269)

Denominator:

        

Weighted average shares outstanding

  31,049,032   20,866,774 

Weighted average restricted shares vested not delivered

  283,678   344,665 

Total basic weighted average shares outstanding

  31,332,710   21,211,439 

Dilutive effect of assumed conversion of restricted stock units

      

Total diluted weighted average shares outstanding

  31,332,710   21,211,439 

Basic and diluted loss per share:

        

Basic

 $(0.17) $(0.39)

Diluted

 $(0.17) $(0.39)

 

Based on exercise prices compared to the average stock prices for the three months ended March 31, 2026 and 2025, certain stock equivalents have been excluded from the diluted weighted average share calculations due to their anti-dilutive nature.

 

  

Three Months Ended March 31,

 
  

2026

  

2025

 

Restricted stock units

  1,337,181   638,241 

Stock options

  331,667   331,667 

Common stock warrants

  7,701,383    

Total anti-dilutive securities

  9,370,231   969,908