v3.26.1
Note 12 - Net Income Per Share
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Earnings Per Share [Text Block]

12. Net Income Per Share

 

Basic net income per share is computed by dividing net income by the weighted average common shares outstanding during the period. The computation of diluted net income per share is similar to the computation of basic net income per share, except that the weighted average common shares outstanding includes the assumed exercise of in-the-money options and contingently issuable shares that would be issuable if the end of the reporting period was the end of the contingency period, unless the effect is anti-dilutive. We use the treasury stock method, which assumes that proceeds, including cash received from the exercise of employee stock options and the average unrecognized compensation expense for unvested awards during the period, would be used to purchase the Company’s common stock at the average market price during the period.

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 

Net income attributable to stockholders

 $1,834,656  $501,880  $3,776,263  $1,948,863 
                 

Weighted average common shares outstanding - Basic

  9,064,785   9,031,282   9,055,433   9,006,082 

Dilutive impact of share-based compensation awards(1)

  124,541   —   71,573   — 

Weighted average common shares outstanding - Diluted

  9,189,326   9,031,282   9,127,006   9,006,082 
                 

Net income per share:

                

Basic

 $0.20  $0.06  $0.42  $0.22 

Diluted

 $0.20  $0.06  $0.41  $0.22 

(1) Outstanding stock options that were not included in this calculation because the effect would be anti-dilutive amounted to 599,256 and 414,939 during the three and six months ended June 30, 2026, respectively. Outstanding stock options that were not included in this calculation because the effect would be anti-dilutive amounted to 717,000 during both the three and six months ended June 30, 2025.