v3.26.1
Note 6 - Loss Per Share
6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Earnings Per Share [Text Block]

6. Earnings (Loss) per Common Share

 

Basic earnings (loss) per common share is determined based on the weighted-average number of common shares outstanding during each period.  The dilutive effect of outstanding options and warrants is calculated using the treasury stock method.  The dilutive effect of shares underlying convertible notes was calculated using the if-converted method. The following table shows the computation of basic and diluted earnings per share for the three and six months ended June 30, 2026 and 2025 (net income and shares in thousands):

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 

Numerator:

                

Net income (loss)

 

$

148  $(1,634) $(1,405) $(5,433)

Effect of dilutive securities

  47   -   -   - 

Net income (loss) adjusted for dilutive effect

  195   (1,634)  (1,405)  (5,433)
                 

Denominator:

                

Weighted-average basic shares outstanding

  147,741   118,797   146,268   117,322 

Effect of dilutive securities

  21,031   -   -   - 

Weighted-average diluted shares

  168,772   118,797   146,268   117,322 
                 

Basic earnings (loss) per share

 $0.00  $(0.01) $(0.01) $(0.05)

Diluted earnings (loss) per share

 $0.00  $(0.01) $(0.01) $(0.05)
                 

 

Diluted earnings (loss) per common share for the three and six months ended June 30, 2026 and 2025 excludes common share equivalents that are anti-dilutive. 

 

The anti-dilutive common share equivalents at  June 30, 2026 and 2025 were as follows (in thousands):

 


  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 

Options outstanding

  27,630   25,684   34,846   25,684 

Unvested RSUs

  48   225   48   225 

Warrants outstanding

  2,526   4,346   2,526   4,346 

Shares underlying convertible notes

  -   24,878   20,709   24,878 
   30,204   55,133   58,129   55,133