Note 10 - Net Income Per Share

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Earnings Per Share [Text Block]

NOTE 10. Net Income Per Share

The computations for basic and diluted net income per share are as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
	(in thousands, except per share data)				(in thousands, except per share data)
Numerator:
Net income	$	27,660	$	27,769	$	79,666	$	49,139
Denominator:
Basic weighted average shares		38,317		38,925		38,680		39,077
Effect of potentially dilutive shares:
Stock options		658		852		715		851
Restricted stock units		242		161		236		219
Employee stock purchase plan		3		—		3		—
Diluted weighted average shares		39,220		39,938		39,634		40,147
Net income per share:
Basic	$	0.72	$	0.71	$	2.06	$	1.26
Diluted	$	0.71	$	0.70	$	2.01	$	1.22

Potentially dilutive shares not included in the calculation of diluted net income per share because doing so would be anti-dilutive are as follows:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
	(in thousands)				(in thousands)
Stock options		554		543		614		531
Restricted stock units		—		50		30		81
Employee stock purchase plan		13		1		7		—
Total anti-dilutive shares		567		594		651		612