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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2023
Accounting Policies [Abstract]  
Changes in the Allowance for Doubtful Accounts
The following table presents our allowance for doubtful accounts activity for the periods indicated (in thousands):
December 31,
202320222021
Balance at beginning of period
$88 $108 $114 
Charges to costs and expenses
75 — — 
Deductions
(46)(20)(6)
Balance at end of period
$117 $88 $108 
Summary of Cash and Cash Equivalents and Restricted Cash
The following table provides a reconciliation of cash and cash equivalents and restricted cash as reported in the consolidated balance sheets that totals to the amounts shown in the consolidated statements of cash flows at the dates indicated (in thousands):
December 31,
20232022
Cash and cash equivalents$33,256 $20,532 
Restricted cash:
Collateral for outstanding letters of credit (1)
111 892 
Captive insurance subsidiary (2)
11,879 9,643 
Total cash, cash equivalents and restricted cash shown in the
consolidated statements of cash flows$45,246 $31,067 
_______________
(1)Represents amounts that are held in a segregated bank account by Wells Fargo Bank as collateral for an outstanding letter of credit.
(2)$1.5 million of the restricted cash balance relates to the initial capitalization of our captive insurance company formed in late 2020, and the remainder primarily represents amounts paid to our captive insurance company for insurance premiums.
Schedule of Common Stock Outstanding
The following table reconciles our outstanding common stock for the periods indicated:
Common
shares
Balance, January 1, 2021
4,243,716 
Vesting of restricted stock unit awards (see Note 15)
14,244 
Vesting of performance share unit awards (see Note 15)
2,461 
Shares withheld to cover taxes upon vesting of equity awards(3,043)
Shares sold under at-the-market offering program97,623 
Balance, December 31, 2021
4,355,001 
Vesting of restricted stock unit awards (see Note 15)
21,814 
Vesting of performance share unit awards (see Note 15)
3,125 
Shares withheld to cover taxes upon vesting of equity awards(3,806)
Shares sold under at-the-market offering program46,524 
Issuance of shares in acquisition (see Note 6)
15,259 
Repurchase of common shares (see Note 10)
(1,942,433)
Balance, December 31, 2022
2,495,484 
Vesting of restricted stock unit awards (see Note 15)
22,227 
Vesting of performance share unit awards (see Note 15)
12,680 
Shares withheld to cover taxes upon vesting of equity awards(8,089)
Shares sold under at-the-market offering program14,680 
Vesting of shares issued in acquisition (see Note 6)
10,172 
Balance, December 31, 2023
2,547,154 
Schedule of Earnings per Share, Basic and Diluted
A reconciliation of the calculation of basic and diluted earnings per share was as follows for the periods indicated (in thousands, except per share data):

Year Ended December 31,
202320222021
Earnings per share – numerator:
Net earnings$212 $3,487 $11,888 
Denominator:
Basic weighted average number of shares outstanding (1)
2,535 4,053 4,283 
Basic earnings per share$0.08 $0.86 $2.78 
Diluted earnings per share:
Diluted weighted average number of shares outstanding:
Common shares (1)
2,535 4,053 4,283 
Restricted stock unit awards
18 23 23 
Performance share unit awards (2)
15 15 17 
Total2,568 4,091 4,323 
Diluted earnings per share$0.08 $0.85 $2.75 
_______________
(1)On October 31, 2022, we repurchased 1,942,433 shares from an affiliate (see Note 10 for further information). As these shares were outstanding for the majority of 2022, the weighted average number of shares outstanding for 2022 reflects the impact of those shares being outstanding through October 31, 2022.
(2)The dilutive effect of performance share awards are included in the calculation of diluted earnings per share when the performance share award performance conditions have been achieved. The performance conditions for the performance share unit awards granted in 2021, 2022 and 2023 were achieved as of December 31, 2021, 2022 and 2023, respectively.
Schedule of Cost of Retirement Plans Our 401(k) plan contributory expenses were as follows for the periods indicated (in thousands):
Year Ended December 31,
202320222021
Contributory expenses$1,431 $1,283 $1,159 
Schedule of Equity At-The-Market Offerings
On December 23, 2020, we entered into an At Market Issuance Sales Agreement with B. Riley Securities, Inc., as agent (“Agent”), under which we may offer to sell our common shares through or to the Agent for cash from time to time. Shares sold under the agreement were as follows for the periods indicated (in thousands, except share data):

Year Ended December 31,
202320222021
Gross proceeds from sale of common shares$598 $1,869 $2,996 
Less offering costs paid to Agent(27)(84)(135)
Less other offering costs(22)(61)(31)
Net proceeds from sale of common shares$549 $1,724 $2,830 
Number of common shares sold14,680 46,524 97,623 
Average price per share$40.74 $40.20 $30.70