Basic earnings per share (EPS), which excludes dilution, is computed by dividing Net Income attributable to the Company by the weighted average number of Common Stock, Class A Non-Voting Common Stock, and Class B Non-Voting Common Stock outstanding for the period. Diluted earnings per share reflects the potential dilution that could occur if securities or other contracts to issue Common Stock, Class A Non-Voting Common Stock, and Class B Non-Voting Common Stock were exercised or converted into Common Stock, Class A Non-Voting Common Stock, or Class B Non-Voting Common Stock. The number of incremental shares from the assumed issuance of shares relating to share based awards is calculated by applying the treasury stock method. The Company computes EPS using the aggregate weighted-average common shares outstanding on a common-equivalent basis as the only difference between classes of shares is related to voting rights and conversion features, but the classes otherwise share equally in dividends and residual net assets on a per share basis.

The following table shows the computation of basic and diluted earnings per share (in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2026		2025
Numerator:
Net Income	$	2,691	$	154
Denominator:
Weighted average common shares outstanding - Basic		66,071,505		62,205,192
Dilutive effect of stock options, RSUs and warrants		—		—
Weighted average common shares outstanding - Diluted		71,104,538		69,619,293
Basic earnings per share	$	0.04	$	-
Diluted earnings per share (1)	$	0.04	$	-

(1) There were 17,732,764 warrants and 5,033,033 RSUs outstanding at March 31, 2026, and there were 17,732,764 warrants, 196,667 options, and 7,294,595 RSUs outstanding at March 31, 2025. The Company excluded the warrants for the three month periods ended March 31, 2026 and 2025, from the calculation of diluted EPS as inclusion would have an anti-dilutive effect.