v3.26.3
Note 6 - Earnings (Loss) Per Common Share
9 Months Ended
Sep. 30, 2026
Notes to Financial Statements  
Earnings Per Share [Text Block]

6. Earnings (Loss) per Common Share

 

Basic earnings (loss) per common share is determined based on the weighted-average number of common shares outstanding during each period.  The dilutive effect of outstanding options and warrants is calculated using the treasury stock method.  The dilutive effect of shares underlying convertible notes was calculated using the if-converted method. The following table shows the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2026 and 2025 (net income and shares in thousands):

 


  

Three Months Ended September 30,

  

Nine Months Ended September 30,

 
  

2026

  

2025

  

2026

  

2025

 

Numerator:

                

Net income (loss)

 

$

903  $(1,966) $(502) $(7,399)

Effect of dilutive securities

  46   -   -   - 

Net income (loss) adjusted for dilutive effect

  949   (1,966)  (502)  (7,399)
                 

Denominator:

                

Weighted-average basic shares outstanding

  148,167   120,147   146,908   118,274 

Effect of dilutive securities

  20,345   -   -   - 

Weighted-average diluted shares

  168,512   120,147   146,908   118,274 
                 

Basic earnings (loss) per share

 $0.01  $(0.02) $(0.00) $(0.06)

Diluted earnings (loss) per share

 $0.01  $(0.02) $(0.00) $(0.06)
                 

 

Diluted earnings (loss) per common share for the three and nine months ended September 30, 2026 and 2025 excludes common share equivalents that are anti-dilutive. 

 

The anti-dilutive common share equivalents at  September 30, 2026 and 2025 were as follows (in thousands):

 


  

Three Months Ended September 30,

  

Nine Months Ended September 30,

 
  

2026

  

2025

  

2026

  

2025

 

Options outstanding

  33,786   25,469   33,786   25,469 

Unvested RSUs

  24   920   24   920 

Warrants outstanding

  2,526   4,346   2,526   4,346 

Shares underlying convertible notes

  -   24,678   20,709   24,678 
   36,336   55,413   57,045   55,413