Net Income Per Share Attributable to Common Stockholders

9 Months Ended

Sep. 30, 2021

Earnings Per Share [Abstract]

Net Income Per Share Attributable to Common Stockholders

Net Income Per Share Attributable to Common Stockholders

The following table sets forth the computation of the Company’s basic and diluted net income per share (in thousands, except share and per share data):

	Three Months Ended September 30,
	2021				2020
	Class A		Class B		Class A		Class B
	(in thousands, except share and per share data)
Numerator:
Net income	$	7,294	$	6,232	$	—	$	6,231
Less: Undistributed earnings allocated to participating securities	—		—		—		(5,035)
Reallocation of net income attributable to common stockholders	(1,229)		1,229		—		—
Net income attributable to common stockholders – basic	$	6,065	$	7,461	$	—	$	1,196
Denominator:
Weighted average common shares outstanding – basic	22,669,223		27,890,413		—		10,335,359
Net income per share attributable to common stockholders – basic:	$	0.27	$	0.27	$	—	$	0.12
Numerator:
Net income attributable to common stockholders - diluted	$	5,445	$	8,081	$	—	$	1,630
Denominator:
Weighted average shares outstanding – basic	22,669,223		27,890,413		—		10,335,359
Options to purchase common stock	—		5,864,634		—		5,541,531
Restricted stock	11,553		—		—		—
Employee stock purchase plan shares	63,068		—		—		—
Weighted average shares outstanding – diluted	22,743,844		33,755,047		—		15,876,890
Net income per share attributable to common stockholders – diluted	$	0.24	$	0.24	$	—	$	0.10

The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net income per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive:

	Three Months Ended September 30,
	2021		2020
	Class A	Class B	Class A	Class B
Options to purchase common stock	892,639	—	—	—
Common stock issuable upon conversion of convertible preferred stock	—	—	—	33,443,969
Total excludable from net income per share attributable to common stockholders – diluted	892,639	—	—	33,443,969

	Nine months ended September 30,
	2021				2020
	Class A		Class B		Class A		Class B
	(in thousands, except share and per share data)
Numerator:
Net income	$	15,295	$	13,070	$	—	$	7,788
Less: Undistributed earnings allocated to participating securities	—		—		—		(6,788)
Reallocation of net income attributable to common stockholders	(7,265)		7,265		—		—
Net income attributable to common stockholders – basic	$	8,030	$	20,335	$	—	$	1,000
Denominator:
Weighted average common shares outstanding – basic	14,087,401		35,667,048		—		10,178,598
Net income per share attributable to common stockholders – basic:	$	0.57	$	0.57	$	—	$	0.10
Numerator:
Net income attributable to common stockholders - diluted	$	7,146	$	21,219	$	—	$	1,269
Denominator:
Weighted average shares outstanding – basic	14,087,401		35,667,048		—		10,178,598
Options to purchase common stock	85,726		6,653,755		—		3,893,650
Restricted stock	23,222		—		—		—
Employee stock purchase plan shares	58,715		—		—		—
Weighted average shares outstanding – diluted	14,255,064		42,320,803		—		14,072,248
Net income per share attributable to common stockholders – diluted	$	0.50	$	0.50	$	—	$	0.09

The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net income per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive:

	Nine months ended September 30,
	2021		2020
	Class A	Class B	Class A	Class B
Options to purchase common stock	668,294	—	—	1,128,642
Common stock issuable upon conversion of convertible preferred stock	—	—	—	33,443,969
Total excludable from net income per share attributable to common stockholders – diluted	668,294	—	—	34,572,611