Note 10 – Earnings (Loss) Per Share

Basic loss per share is computed using the weighted average number of common shares outstanding and penny warrants during the period and net loss available to common stockholders. Diluted loss per share is computed using the weighted average number of common shares outstanding during the period and excludes the dilutive effect of potential shares of common stock including common stock issuable pursuant to stock options, warrants, and restricted stock units. The two-class method for computing earnings per share will be utilized when applicable.

For the three and six periods ended June 28, 2026 and June 29, 2025, net loss per share was calculated as follows (in thousands, except net loss per share and related share data):

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For the three periods ended June 28, 2026 and June 29, 2025, 2.0 million and 1.7 million, respectively, of stock options, warrants and restricted share units were determined to be anti-dilutive and were therefore excluded from the calculation of diluted earnings per share. For the six periods ended June 28, 2026 and June 29, 2025, respectively, 1.8 million and 1.6 million of stock options, warrants and restricted share units were anti-dilutive.

Subsequent to the issuance of the June 29, 2025 condensed consolidated financial statements, management identified an error in the earnings (loss) per share calculation due to the Company incorrectly excluding 1.9 million of penny warrants from basic weighted average common shares outstanding. The above table has been restated to include the penny warrants in the weighted average common shares outstanding for the three and six periods ended June 29, 2025. The 1.9 million of penny warrants were also removed from the previously reported anti-dilutive share totals for the three and six periods ended June 29, 2025. The loss per share has been restated in the above table from $0.59 and $0.80 per share previously reported for the three periods and six periods ended June 29, 2025, respectively. Amounts for basic and diluted loss per share and weighted average common shares have also been restated in the Condensed Consolidated Statements of Operations. Management considered both quantitative and qualitative factors and determined that the impact of the error is immaterial to prior periods.