Earning Per Share (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Summary of Composition of Earnings Per Share

The following table sets forth the composition of earnings per share:

	Three Months Ended September 30,				Nine Months Ended September 30,
(In Thousands, except share and per share data)	2024		2023		2024		2023
Net income	$	7,095	$	1,240	$	18,625	$	1,033
Basic weighted average common shares outstanding		36,983,637		16,235,144		36,972,127		15,984,151
Net effect of dilutive stock options and warrants		2,734		—		4,380		—
Net effect of dilutive restricted stock awards and units		103,740		—		85,005		—
Diluted weighted average common shares outstanding		37,090,111		16,235,144		37,061,512		15,984,151
Net income per common share:
Basic	$	0.19	$	0.08	$	0.50	$	0.06
Diluted	$	0.19	$	0.08	$	0.50	$	0.06

Schedule of Dilutive Securities Included in Computation of Earnings Per Share

The following is a summary of securities that could potentially dilute basic earnings per common share in future periods that were included in the computation of diluted earnings per common share in the periods presented.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Stock Options		24,691		—		116,191		—
Warrants		—		—		—		—
Restricted Stock Awards and Units		487,324		—		487,324		—
Total dilutive securities		512,015		—		603,515		—

Schedule of Dilutive Securities Excluded in Computation of Earnings Per Share

The following is a summary of securities that could potentially dilute basic earnings per share in future periods that were not included in the computation of diluted earnings per share because to do so would have been anti-dilutive for the periods presented.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Stock Options		585,700		260,000		494,200		260,000
Warrants		1,537,484		1,537,484		1,537,484		1,537,484
Restricted Stock Awards and Units		—		87,000		—		87,000
Total anti-dilutive securities		2,123,184		1,884,484		2,031,684		1,884,484