v3.26.1
Earnings Per Common Share
 6 Months Ended
Jun. 30, 2026
Earnings Per Common Share [Abstract]  
Earnings Per Common Share

17. Earnings Per Common Share

 

The following table sets forth the computation of basic and diluted earnings per common share for the periods presented.

 

    Three Months Ended
June 30,		     Six Months Ended
June 30,		  
    2026     2025     2026     2025  
Net income (loss)   $ (326,000 )   $ (4,719,000 )   $ (2,298,000 )   $ 3,942,000  
Less net income (loss) attributable to noncontrolling interests     —       —       —       (3,000 )
Net income (loss) available to common stockholders   $ (326,000 )   $ (4,719,000 )   $ (2,298,000 )   $ 3,945,000  
                                 
Weighted-average common shares outstanding - basic     40,977,420       40,399,958       40,890,660       40,296,571  
Dilutive effect of unvested shares     8,378       422,481       62,911       239,021  
Weighted-average common shares used to compute diluted loss per share     40,985,798       40,822,439       40,953,571       40,535,592  
                                 
Net income (loss) per share attributable to common stockholders:                                
Basic   $ (0.01 )   $ (0.12 )   $ (0.06 )   $ 0.10  
Diluted   $ (0.01 )   $ (0.12 )   $ (0.06 )   $ 0.10  

 

Basic earnings per common share is calculated by dividing net income attributable to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per common share is calculated by adjusting the weighted-average number of common shares outstanding for the potential dilutive effect of securities, if applicable. For the three and six months ended June 30, 2026 the Company had 805,000 and 1,005,000 antidilutive shares outstanding, respectively. For the three and six months ended June 30, 2025, the Company had 0 and 300,000 antidilutive shares outstanding, respectively. These restricted stock units were excluded from the computation of diluted net income per share because the effect would be anti-dilutive.