BASIC AND FULLY DILUTED NET INCOME (LOSS) PER COMMON SHARE

6 Months Ended

Jun. 30, 2026

Net income per share

BASIC AND FULLY DILUTED NET INCOME (LOSS) PER COMMON SHARE

8. BASIC AND FULLY DILUTED NET INCOME (LOSS) PER COMMON SHARE

The following table sets forth the computation of basic and fully diluted net income per common share 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
Numerator:
Net income		$	6,756,537			$	1,387,761			$	12,195,455			$	3,973,861
Denominator:
Weighted average common shares:
Denominator for basic calculation			55,864,262				54,228,027				55,265,671				53,903,829
Weighted average effects of potentially diluted common stock:
Stock options (calculated using the treasury method)			1,276,628				923,033				1,169,311				822,717
Unvested restricted stock grants			4,834,641				2,721,258				4,953,871				1,585,706
Denominator for fully diluted calculation			61,975,531				57,872,318				61,388,853				56,312,252
Net income per common share:
Basic		$	0.12			$	0.03			$	0.22			$	0.07
Fully diluted		$	0.11			$	0.02			$	0.20			$	0.07

The following table sets forth the number of shares of unvested restricted stock excluded from the computation of diluted net income per common share because their effect would have been anti-dilutive for the periods presented:

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Anti-dilutive shares:

Stock options

–

–

–

–

Unvested restricted stock awards

–

–

227,403

–