Net Income Per Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Net Income Per Share

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 March 31,
	2024		2023
Net income	$	1,506,896	$	3,529,827

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

	Three months ended March 31,
	2024	2023
Basic weighted-average number of shares outstanding	21,994,207	22,990,893
Dilutive stock options	—	8,512
Unvested time-based restricted shares	—	21,415
Unvested performance-based restricted shares	—	6,864
Diluted weighted-average shares outstanding	21,994,207	23,027,684

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

	Three months ended March 31,
	2024	2023
Anti-dilutive options	—	61,488
Anti-dilutive unvested time-based restricted shares	546,245	276,795
Anti-dilutive unvested performance-based restricted shares	—	8,969
Total Anti-dilutive shares	546,245	347,252