v3.26.3
Earnings per Share
 9 Months Ended
Sep. 30, 2026
NET INCOME PER SHARE:  
Earnings per Share

13. Earnings per Share

 

The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders:

 

 

 

September 30, 2026

 

 

September 30, 2025

 

 

 

Three Months Ended,

 

 

Nine Months Ended,

 

 

Three Months Ended,

 

 

Nine Months Ended,

 

Net income

 

$9,614,566

 

 

$6,487,401

 

 

$6,409,873

 

 

 

6,360,807

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

34,439,562

 

 

 

34,419,266

 

 

 

31,970,364

 

 

 

31,850,348

 

Add: dilutive effect of stock options, SARs and warrants

 

 

4,462,750

 

 

 

4,483,046

 

 

 

10,001,993

 

 

 

9,822,048

 

Diluted

 

 

38,902,312

 

 

 

38,902,312

 

 

 

41,972,357

 

 

 

41,672,396

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Income per share-

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$0.28

 

 

$0.19

 

 

$0.20

 

 

$0.20

 

Diluted

 

$0.25

 

 

$0.17

 

 

$0.15

 

 

$0.15

 

 

The following potentially dilutive shares were not included in the calculation of diluted shares outstanding for the periods presented as the effect would have been anti-dilutive:

 

Anti-dilutive shares

 

September 30, 2026

 

 

September 30, 2025

 

Public Warrants

 

 

16,145,006

 

 

 

-

 

Private Warrants

 

 

515,000

 

 

 

-

 

Warrants

 

 

3,138,918

 

 

 

-

 

Outstanding stock options

 

 

3,946,518

 

 

 

-

 

 

 

 

23,745,442

 

 

 

-

 

 

The 3,750,000 remaining unvested earnout shares as of September 30, 2026 are excluded from basic and diluted net income per share as such shares are contingently issuable until the Company exceeds certain milestone thresholds that have not been achieved.