The
following table reconciles the numerator and the denominator used to calculate basic and diluted earnings per share for three months
ended March 31, 2022:
| | |
Three Months Ended March 31, | |
| | |
2022 | | |
2021 | |
| Numerator | |
| | | |
| | |
| Net income, as reported | |
$ | 11,714,595 | | |
$ | 7,898,975 | |
| | |
| | | |
| | |
| Denominator | |
| | | |
| | |
| Weighted average shares, basic | |
| 33,935,570 | | |
| 28,662,885 | |
| Dilutive effect of stock options, warrants and RSUs | |
| 775,906 | | |
| 1,339,844 | |
| Shares used to compute diluted earnings per share | |
| 34,711,476 | | |
| 30,002,729 | |
| | |
| | | |
| | |
| Basic earnings per share | |
$ | 0.35 | | |
$ | 0.28 | |
| Diluted earnings per share | |
$ | 0.34 | | |
$ | 0.26 | |
|