Earnings Per Share

6 Months Ended

Jun. 30, 2020

Earnings Per ShareBasic earnings per share is computed by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding, adjusted for outstanding shares that are subject to repurchase during each period. Diluted earnings per share is computed using the weighted average number of common shares plus the potentially dilutive effect of common stock equivalents (outstanding stock options, restricted stock and restricted stock units) issued and outstanding at the reporting date, using the treasury stock method. Common stock equivalents that are anti-dilutive are excluded from the computation of weighted average shares outstanding. The Company includes performance stock unit awards in dilutive potential common shares when they become contingently issuable and have a dilutive impact per authoritative guidance and excludes such awards when they are not contingently issuable.

The following table sets forth the computation of basic and diluted earnings per share:


	Three months ended June 30,						Six months ended June 30,
	2020		2019		2020		2019
Numerators:
Net income	$	8,429	$	12,564	$	30,840	$	27,259
Denominators:
Basic weighted average common shares outstanding	34,486,202		34,451,671		34,443,884		34,413,455
Dilutive effect of share-based awards	111,486		250,876		215,262		354,748
Diluted weighted average common shares outstanding	34,597,688		34,702,547		34,659,146		34,768,203
Earnings per share attributable to ExlService Holdings Inc. stockholders:
Basic	$	0.24	$	0.36	$	0.90	$	0.79
Diluted	$	0.24	$	0.36	$	0.89	$	0.78
Weighted average potentially dilutive shares considered anti-dilutive and not included in computing diluted earnings per share	638,318		69		404,315		212,751