Note 9 - Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2026

Notes to Financial Statements

Earnings Per Share [Text Block]

9. NET INCOME (LOSS) PER SHARE

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding for the period (excluding outstanding stock options, nonvested restricted stock units and shares subject to repurchase). Diluted net income (loss) per share is computed using the weighted average number of common shares outstanding for the period plus the potential effect of dilutive securities which are convertible into common shares (using the treasury stock method), except in cases in which the effect would be anti-dilutive. The following is a reconciliation of the numerators and denominators used in computing basic and diluted net income (loss) per share (in thousands except per share amount):

		*Three Months Ended June 30,*								*Six Months Ended June 30,*
		*2026*				*2025*				*2026*				*2025*
Numerator:
Net income (loss)		$	4,271			$	1,146			$	9,062			$	(1,886	)
Denominator:
Basic weighted average common shares outstanding			40,932				39,148				40,397				39,118
Effect of dilutive stock options, unvested restricted stock units, and shares of common stock expected to be issued under employee stock purchase plan			844				112				682				—
Diluted weighted average common shares outstanding			41,776				39,260				41,079				39,118

Net income (loss) per share:
Basic		$	0.10			$	0.03			$	0.22			$	(0.05	)
Diluted		$	0.10			$	0.03			$	0.22			$	(0.05	)

For the six months ended June 30, 2025, because the Company was in a loss position, diluted net loss per share is the same as basic net loss per share as the inclusion of the potential common shares would have been anti-dilutive.

The following table summarizes the potential shares of common stock that were not included in the diluted net income (loss) per share calculation above because to do so would be anti-dilutive for the periods indicated (in thousands):

		*Three Months Ended June 30,*								*Six Months Ended June 30,*
		*2026*				*2025*				*2026*				*2025*
Non-vested restricted stock units			5				1,164				17				1,518
Outstanding stock options			—				6				—				26
Shares issuable under employee stock purchase plan			62				268				55				268
Total			67				1,438				72				1,812