| Summary of Earnings Per Share |
The following table presents earnings per share for the three and six months ended June 30, 2026, and 2025.
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Three Months Ended |
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Six Months Ended |
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June 30,
2026 |
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June 30,
2025 |
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June 30,
2026 |
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June 30,
2025 |
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Basic: |
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Net income (loss) allocable to common stockholders |
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$ |
26,439 |
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$ |
15,264 |
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$ |
43,405 |
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$ |
30,305 |
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Weighted average common shares outstanding |
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20,624,707 |
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17,524,244 |
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20,820,220 |
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17,499,422 |
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Weighted average vested restricted stock units |
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86 |
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52 |
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9,564 |
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4,313 |
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Weighted average shares |
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20,624,793 |
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17,524,296 |
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20,829,784 |
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17,503,735 |
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Basic earnings (loss) per common share |
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$ |
1.28 |
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$ |
0.87 |
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$ |
2.08 |
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$ |
1.73 |
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Diluted: |
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Net income (loss) allocable to common stockholders |
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$ |
26,439 |
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$ |
15,264 |
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$ |
43,405 |
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$ |
30,305 |
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Weighted average common shares outstanding for: |
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Basic earnings per common share |
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20,624,793 |
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17,524,296 |
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20,829,784 |
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17,503,735 |
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Dilutive effects of the assumed exercise of stock options |
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110,407 |
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48,107 |
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106,589 |
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55,450 |
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Dilutive effects of the assumed vesting of restricted stock units |
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89,077 |
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78,019 |
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99,263 |
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93,719 |
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Dilutive effects of the assumed exercise of ESPP purchases |
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1,167 |
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876 |
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1,392 |
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1,307 |
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Average shares and dilutive potential common shares |
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20,825,444 |
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17,651,298 |
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21,037,028 |
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17,654,211 |
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Diluted earnings (loss) per common share |
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$ |
1.27 |
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$ |
0.86 |
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$ |
2.06 |
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$ |
1.72 |
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| Schedule of Average Shares Not Included In the Computation of Diluted Earnings Per Share |
Average shares not included in the computation of diluted earnings per share because they were antidilutive are shown in the following table as of June 30, 2026, and 2025.
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Three Months Ended |
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Six Months Ended |
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June 30,
2026 |
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June 30,
2025 |
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June 30,
2026 |
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June 30,
2025 |
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Stock options |
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336,116 |
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252,792 |
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332,270 |
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236,273 |
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Restricted stock units |
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842 |
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108,199 |
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11,761 |
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90,985 |
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Total antidilutive shares |
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336,958 |
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360,991 |
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344,031 |
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327,258 |
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