Net Income per Share

6 Months Ended

Jun. 30, 2020

Earnings Per Share [Abstract]

Net Income per Share

Net Income per Share

The following table sets forth the computation of the Company’s basic and diluted net income per share for the three and six months ended June 30, 2020 and 2019:

(in thousands, except share and per share data)	Three Months Ended June 30,				Six Months Ended June 30,
	2020		2019		2020		2019
Numerator:
Net income	$	10,379	$	2,204	$	7,971	$	3,462
Denominator:
Weighted-average shares outstanding — basic	72,030,143		75,648,621		71,516,532		75,250,562
Effect of dilutive securities	4,195,037		2,859,938		4,557,361		3,405,553
Weighted-average shares outstanding — diluted	76,225,180		78,508,559		76,073,893		78,656,115
Basic net income per share	$	0.14	$	0.03	$	0.11	$	0.05
Diluted net income per share	$	0.14	$	0.03	$	0.10	$	0.04

Basic net income per share is computed by dividing net income by the weighted-average number of common shares outstanding. Diluted net income per share is computed by dividing net income by the weighted-average number of common shares and common stock equivalents outstanding, calculated using the treasury stock method for in-the-money stock options, unvested RSAs and unvested PSUs using the average market price during the period.

For the three months ended June 30, 2020 and 2019, less than 0.1 million and 2.2 million shares, respectively, and for the six months ended June 30, 2020 and 2019, 0.1 million and 1.6 million shares, respectively, of the Company’s stock-based compensation awards that could potentially dilute basic net income per share in the future were excluded from the calculation of diluted net income per share as their effect would have been anti-dilutive.