v3.26.1
Net Income (Loss) Per Share
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share

Note 7: Net Income (Loss) Per Share

The Company computes net income (loss) per share of Class A and Class B common stock using the two class method. Under the provisions of the two class method, basic net income (loss) per share is computed by dividing net income (loss) applicable to common stockholders by the weighted average number of common shares outstanding during the year. Diluted net income (loss) per share is computed by dividing net income (loss) applicable to common stockholders by the weighted average number of common and dilutive common equivalent shares outstanding during the period. The computation of the diluted net income (loss) per share of Class B common stock assumes the conversion of Class A to Class B common stock, while the diluted net income (loss) per share of Class A common stock does not assume the conversion of those shares.

In accordance with the two class method, the undistributed income (loss) for each period is allocated based on the contractual participation rights of the Class A and Class B common shares and the restricted shares as if the income (loss) for the periods had been distributed. Considering the terms of the Company’s charter which provides that, if and when dividends are declared on its common stock in accordance with Delaware General Corporation Law ("DGCL"), equivalent dividends shall be paid with respect to the shares of Class A and Class B common stock and that both classes of common stock have identical dividend rights and would share equally in the Company’s net assets in the event of liquidation, the Company has allocated undistributed income (loss) on a proportionate basis.

Instruments granted in unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are participating securities prior to vesting. As such, the Company’s RSAs are considered participating securities for purposes of calculating income (loss) per share. Under the two class method, dividends paid on unvested restricted stock are allocated to these participating securities and therefore impact the calculation of amounts allocated to common stock.

The following tables present the computation of basic net income (loss) per share applicable to common stockholders for the periods ended:

 

 

Three Months Ended June 30,

 

 

 

2026

 

 

2025

 

(In Thousands, Except Per Share Amounts)

 

Class A

 

 

Class B

 

 

Class A

 

 

Class B

 

Basic net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) applicable to common stockholders

 

$

(43

)

 

$

(365

)

 

$

9

 

 

$

76

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares outstanding - basic

 

 

4,661

 

 

 

39,653

 

 

 

4,661

 

 

 

39,241

 

Basic net income (loss) per share applicable to common stockholders

 

$

(0.01

)

 

$

(0.01

)

 

$

0.00

 

 

$

0.00

 

 

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

(In Thousands, Except Per Share Amounts)

 

Class A

 

 

Class B

 

 

Class A

 

 

Class B

 

Basic net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss applicable to common stockholders

 

$

(225

)

 

$

(1,907

)

 

$

(202

)

 

$

(1,695

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares outstanding - basic

 

 

4,661

 

 

 

39,478

 

 

 

4,661

 

 

 

39,151

 

Basic net loss per share applicable to common stockholders

 

$

(0.05

)

 

$

(0.05

)

 

$

(0.04

)

 

$

(0.04

)

The following tables present the computation of diluted net income (loss) per share applicable to common stockholders for the periods ended:

 

 

Three Months Ended June 30,

 

 

 

2026

 

 

2025

 

(In Thousands, Except Per Share Amounts)

 

Class A

 

 

Class B

 

 

Class A

 

 

Class B

 

Diluted net income (loss) per share:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss) applicable to common stockholders

 

$

(43

)

 

$

(365

)

 

$

9

 

 

$

76

 

Reallocation of net income (loss) for Class A to Class B shares

 

 

—

 

 

 

(43

)

 

 

—

 

 

 

9

 

Diluted net income (loss) applicable to common stockholders:

 

$

(43

)

 

$

(408

)

 

$

9

 

 

$

85

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares outstanding - basic

 

 

4,661

 

 

 

39,653

 

 

 

4,661

 

 

 

39,241

 

Conversion of Class A to B common shares outstanding

 

 

—

 

 

 

4,661

 

 

 

—

 

 

 

4,661

 

Weighted average number of shares outstanding - diluted

 

 

4,661

 

 

 

44,314

 

 

 

4,661

 

 

 

43,902

 

Diluted net income (loss) per share applicable to common stockholders

 

$

(0.01

)

 

$

(0.01

)

 

$

0.00

 

 

$

0.00

 

 

 

 

 

 

 

 

 

 

 

 

 

Anti-dilutive securities

 

 

—

 

 

 

6,603

 

 

 

—

 

 

 

6,434

 

 

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

(In Thousands, Except Per Share Amounts)

 

Class A

 

 

Class B

 

 

Class A

 

 

Class B

 

Diluted net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss applicable to common stockholders

 

$

(225

)

 

$

(1,907

)

 

$

(202

)

 

$

(1,695

)

Reallocation of net loss for Class A to Class B shares

 

 

—

 

 

 

(225

)

 

 

—

 

 

 

(202

)

Diluted net loss applicable to common stockholders:

 

$

(225

)

 

$

(2,132

)

 

$

(202

)

 

$

(1,897

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares outstanding - basic

 

 

4,661

 

 

 

39,478

 

 

 

4,661

 

 

 

39,151

 

Conversion of Class A to B common shares outstanding

 

 

—

 

 

 

4,661

 

 

 

—

 

 

 

4,661

 

Weighted average number of shares outstanding - diluted

 

 

4,661

 

 

 

44,139

 

 

 

4,661

 

 

 

43,812

 

Diluted net loss per share applicable to common stockholders

 

$

(0.05

)

 

$

(0.05

)

 

$

(0.04

)

 

$

(0.04

)

 

 

 

 

 

 

 

 

 

 

 

 

Anti-dilutive securities

 

 

—

 

 

 

7,404

 

 

 

—

 

 

 

6,336