Net Income Per Share |
Note 10—Net Income Per Share The following table presents the calculation of basic and diluted net income per share for periods presented (in thousands except share and per share amounts): | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2018 | | 2017 | | 2018 | | 2017 | Numerator: | | | | | | | | Net income | $ | 19,894 |
| | $ | 25,802 |
| | $ | 36,240 |
| | $ | 37,050 |
| Net income allocated to participating securities under the two-class method | (10 | ) | | (25 | ) | | (17 | ) | | (37 | ) | Net income applicable to common stockholders—basic | 19,884 |
| | 25,777 |
| | 36,223 |
| | 37,013 |
| Dilutive effect of net income allocated to participating securities under the two-class method | 10 |
| | 25 |
| | 17 |
| | 37 |
| Change in fair value of liability classified restricted stock | — |
| | — |
| | — |
| | 771 |
| Net income attributable to common stockholders—diluted | $ | 19,894 |
| | $ | 25,802 |
| | $ | 36,240 |
| | $ | 37,821 |
| | | | | | | | | Denominator: | | | | | | | | Weighted-average common shares outstanding—basic (1) | 119,870,711 |
| | 119,592,191 |
| | 120,469,066 |
| | 117,387,714 |
| Common equivalent shares from options to purchase common stock and restricted stock units | 4,752,871 |
| | 2,254,792 |
| | 4,134,016 |
| | 2,847,662 |
| Dilutive effect of assumed conversion of restricted stock units | 2,368,406 |
| | 1,308,104 |
| | 1,812,373 |
| | 1,075,915 |
| Dilutive effect of assumed conversion of convertible debt | 2,004,447 |
| | — |
| | — |
| | — |
| Dilutive effect of assumed conversion of restricted stock from acquisition | 89,702 |
| | 69,472 |
| | 81,826 |
| | 35,630 |
| Weighted-average common shares outstanding—diluted | 129,086,137 |
| | 123,224,559 |
| | 126,497,281 |
| | 121,346,921 |
| | | | | | | | | Net income per share attributable to common stockholders—basic | $ | 0.17 |
| | $ | 0.22 |
| | $ | 0.30 |
| | $ | 0.32 |
| Net income per share attributable to common stockholders—diluted | $ | 0.15 |
| | $ | 0.21 |
| | $ | 0.29 |
| | $ | 0.31 |
|
| | (1) | 57,482 shares of unvested stock are considered participating securities and are excluded from basic shares outstanding for the three and nine months ended September 30, 2018. |
The following potential common shares were excluded from the calculation of diluted net income per share attributable to common stockholders because their effect would have been anti-dilutive for the periods presented: | | | | | | | | | | | | | | Three Months Ended September 30, | | Nine Months Ended September 30, | | 2018 | | 2017 | | 2018 | | 2017 | Stock options | 8,166 |
| | 2,211,038 |
| | 467,072 |
| | 4,980,520 |
| Restricted stock units | 52,197 |
| | 185,472 |
| | 1,174,618 |
| | 792,024 |
| Total anti-dilutive securities | 60,363 |
| | 2,396,510 |
| | 1,641,690 |
| | 5,772,544 |
|
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