Net Income Per Share

6 Months Ended

Jun. 30, 2026

12. 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:


		Three months ended June 30,						Six months ended June 30,
		2026			2025			2026			2025
Net income		$	7,133,471		$	1,551,461		$	7,862,896		$	5,567,495

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


		Three months ended June 30,				Six months ended June 30,
		2026		2025		2026		2025
Basic weighted-average number of shares outstanding		30,248,522		22,017,310		30,244,275		22,013,062
Unvested time-based restricted shares		166,387		185,005		125,535		142,567
Diluted weighted-average shares outstanding		30,414,909		22,202,315		30,369,810		22,155,629

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


		Three months ended June 30,				Six months ended June 30,
		2026		2025		2026		2025
Anti-dilutive unvested time-based restricted shares		606,863		367,421		651,938		411,203