Net Income Per Common Share (Tables)

3 Months Ended

Mar. 31, 2021

Reconciliation of Numerator and Denominator Used in Calculation of Basic and Diluted Net Income Per Common Share

A reconciliation of the numerator and denominator used in the calculation of basic and diluted net income per common share is as follows:

	For the Three Months Ended
	March 31,
	2021		2020
Numerator:
Net income	$	1,810	$	2,207
Denominator:
Basic:
Weighted average shares of common stock and vested, undelivered restricted stock units outstanding		28,140,619		28,003,663
Diluted:
Weighted average shares of common stock and vested, undelivered restricted stock units outstanding		28,140,619		28,003,663
Effect of potentially dilutive shares ⁽¹⁾		1,101,728		436,056
Total weighted average shares of common stock and vested, undelivered restricted stock units outstanding and potentially dilutive shares		29,242,347		28,439,719
Net Income Per Common Share:
Basic:
Net income applicable to common stockholders	$	1,810	$	2,207
Weighted average shares of stock outstanding		28,140,619		28,003,663
Basic net income per common share	$	0.06	$	0.08
Diluted:
Net income applicable to common stockholders	$	1,810	$	2,207
Weighted average shares of stock outstanding		29,242,347		28,439,719
Diluted net income per common shares ⁽¹⁾	$	0.06	$	0.08

(1)

In calculating diluted net income per share, 26.0 thousand shares related to outstanding stock options and unvested, undelivered restricted stock units were excluded for the three months ended March 31, 2021. Additionally, we excluded the impact of the amortization into interest expense from net income relating to our convertible shares and the resulting 2.9 million common shares under the if-converted method due to their anti-dilutive nature. 37.5 thousand shares related to outstanding stock options and unvested, undelivered restricted stock units were excluded for the three months ended March 31, 2020.