Net Income Per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share

Basic net income per share is computed using the weighted average number of shares of common stock outstanding for the period, excluding unvested RSUs and stock options. Diluted net income per share is based upon the weighted average shares of common stock outstanding for the period plus dilutive potential shares of common stock, including unvested RSUs and stock options using the treasury stock method.

The following table sets forth the computation of basic and diluted net income per share for the three and six months ended June 30, 2024 and 2023 (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Net income	$	3,625	$	50,013	$	19,746	$	82,856
Shares used to compute basic net income per share	35,697		36,047		35,644		35,952
Dilutive potential common shares
Stock options	49		119		66		136
Unvested restricted stock awards	236		240		313		402
Shares used to compute diluted net income per share	35,982		36,406		36,023		36,490
Basic net income per share	$	0.10	$	1.39	$	0.55	$	2.31
Diluted net income per share	$	0.10	$	1.37	$	0.55	$	2.27
Dilutive shares included in the calculation	1,051		1,112		1,204		1,400
Anti-dilutive shares excluded from the calculation	1,992		1,041		1,329		611