v3.25.2
Net Income Per Share
6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Net Income Per Share

13.    Net Income Per Share

Basic net income per share is computed on the basis of the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed based upon the weighted-average number of common shares outstanding during the period plus the assumed issuance of common shares for all potentially dilutive securities.

The net income used in the calculation of basic and diluted net income per share is as follows:

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Three months ended June 30, 

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Six months ended June 30, 

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2025

    

2024

    

2025

    

2024

Net income

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$

1,551,461

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$

815,660

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$

5,567,495

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$

2,322,556

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In calculating the net income per share, basic and diluted, the following weighted-average shares were used:

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Three months ended June 30, 

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Six months ended June 30, 

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2025

    

2024

    

2025

    

2024

Basic weighted-average number of shares outstanding

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22,017,310

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21,921,752

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22,013,062

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21,957,980

Unvested time-based restricted shares

 

185,005

 

107,723

 

142,567

 

29,162

Diluted weighted-average shares outstanding

 

22,202,315

 

22,029,475

 

22,155,629

 

21,987,142

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The Company excluded the following shares from the diluted EPS because their inclusion would have been anti-dilutive.

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Three months ended June 30, 

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Six months ended June 30, 

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2025

    

2024

    

2025

    

2024

Anti-dilutive unvested time-based restricted shares

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367,421

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492,463

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411,203

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512,389

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