Note 19 - Earnings Per Share

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Earnings Per Share [Text Block]

19. Earnings per share

Basic earnings per share attributable to Company stockholders is calculated by dividing net income attributable to the Company by the weighted-average number of common shares outstanding for the period. Diluted earnings per share attributable to Company stockholders is computed by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding, assuming all potentially dilutive shares were issued. We apply the treasury stock method to determine the dilutive weighted average common shares represented by unvested restricted stock units, stock options and Employee Stock Purchase Program (“ESPP”) shares.

The calculation of basic and diluted earnings per share attributable to Company stockholders for the three and six months ended June 30, 2024 and 2023, respectively, are as follows (in thousands):

	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Net income	$	15,286	$	9,295	$	12,609	$	2,944
Basic weighted average number of shares outstanding		113,980		108,663		112,078		108,758
Effect of dilutive securities:
Unvested restricted stock units		429		386		1,271		612
ESPP shares		23		7		15		5
Stock options		492		326		325		601
Diluted weighted average number of shares outstanding		114,924		109,382		113,689		109,976
Total basic earnings per share	$	0.13	$	0.09	$	0.11	$	0.03
Total diluted earnings per share	$	0.13	$	0.08	$	0.11	$	0.03