Net income (loss) is divided by the weighted average number of common shares outstanding during the period to calculate basic earnings (loss) per share. Diluted earnings (loss) per share is calculated to give effect to RSUs and stock options. The following table summarizes the dilutive effect of RSUs and stock options on common stock for the three and six months ended June 30, 2026, and 2025:


	Three months ended June 30,		Six months ended June 30,
	2026	2025	2026	2025
Weighted average common shares—basic	35,877,517	40,647,361	36,651,820	40,626,325
Dilutive effect of restricted stock units	324,279	282,500	418,970	313,473
Dilutive effect of stock options	9,236	—	4,618	—
Weighted average common shares—diluted	36,211,032	40,929,861	37,075,408	40,939,798

Anti-dilutive shares excluded from the computation of diluted earnings per share for the three and six months ended June 30, 2026, were 800,000 and 850,000 shares, respectively. Anti-dilutive shares excluded from the computation of diluted earnings per share for the three and six months ended June 30, 2025, were 80,957 and 42,969 shares, respectively.

In February 2026, the Company announced its Board of Directors had authorized the Company to increase the purchase of its common stock up to $150 million in the aggregate, adding to the $48.9 million remaining under the previous authorization. In the three and six months ended June 30, 2026, the Company purchased 509,264 and 1,996,321 shares of its outstanding common stock for $18.9 million and $73.5 million, respectively. During the three and six months ended June 30, 2025, the Company purchased 85,729 and 106,220 shares of its outstanding common stock for $1.8 million and $2.3 million, respectively. As of June 30, 2026, the Company had $76.5 million remaining under the repurchase authorization.

Holders of common stock are entitled to dividends at the discretion of the Company's Board of Directors. During the three and six months ended June 30, 2026, the Company's quarterly cash dividends declared were $0.04 per share of common stock and total dividends declared and paid on common shares were $1.4 million and $2.9 million, respectively. In the three and six months ended June 30, 2025, the Company's quarterly cash dividends declared were $0.04 per share of common stock and total dividends declared and paid on common shares were $1.7 million and $3.3 million, respectively.