Quarterly report [Sections 13 or 15(d)]

INCOME (LOSS) PER SHARE AND SHAREHOLDERS' EQUITY

v3.25.2
INCOME (LOSS) PER SHARE AND SHAREHOLDERS' EQUITY
6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
INCOME (LOSS) PER SHARE AND SHAREHOLDERS' EQUITY

6. INCOME (LOSS) PER SHARE AND SHAREHOLDERS’ EQUITY

Income (Loss) Per Share

The following table presents the computation of basic and diluted income (loss) per share for the three and six months ended June 30, 2025 and 2024 (in thousands, except per share data):

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

(574

)

 

$

1,889

 

 

$

3,253

 

 

$

8,129

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average basic shares

 

 

16,187

 

 

 

16,415

 

 

 

16,263

 

 

 

16,315

 

Effect of dilutive share-based awards

 

 

 

 

 

449

 

 

 

279

 

 

 

495

 

Weighted average diluted shares

 

 

16,187

 

 

 

16,864

 

 

 

16,542

 

 

 

16,810

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic income (loss) per share

 

$

(0.04

)

 

$

0.12

 

 

$

0.20

 

 

$

0.50

 

Diluted income (loss) per share

 

$

(0.04

)

 

$

0.11

 

 

$

0.20

 

 

$

0.48

 

Shareholders’ Equity

We have a share repurchase program, as amended (“Share Repurchase Program”), authorizing the repurchase of up to $10.0 million of our outstanding common stock expiring December 15, 2026. The timing and amount of any share repurchases is at the discretion of management and may be made from time to time through transactions in the open market, in privately negotiated transactions or by other means in accordance with applicable laws. The Share Repurchase Program does not obligate us to repurchase any shares of our common stock and may be modified, increased, suspended or terminated at the discretion of the Board. During the six months ended June 30, 2025 and 2024, we repurchased 523,593 and 60,860 shares of our common stock for $3.4 million and $0.3 million, respectively, and at June 30, 2025, we had remaining authorization to purchase $5.3 million under the Share Repurchase Program.