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Net Income Per Share (Tables)
9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Schedule of Components of Basic and Diluted Net Income Per Share

The components of basic and diluted net income per share are as follows:

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

(In thousands, except per share data)

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

24,576

 

 

$

27,306

 

 

$

64,257

 

 

$

22,383

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares - basic

 

 

151,429

 

 

 

159,358

 

 

 

154,067

 

 

 

161,334

 

Common stock equivalents

 

 

6,875

 

 

 

6,073

 

 

 

6,366

 

 

 

3,474

 

Weighted average shares - diluted

 

 

158,304

 

 

 

165,431

 

 

 

160,433

 

 

 

164,808

 

Net income per share - basic

 

$

0.16

 

 

$

0.17

 

 

$

0.42

 

 

$

0.14

 

Net income per share - diluted

 

$

0.15

 

 

$

0.14

 

 

$

0.38

 

 

$

0.14

 

Antidilutive shares excluded from diluted net income per share:

 

 

 

 

 

 

 

 

 

 

 

 

Contingently issuable shares (1)

 

 

5,000

 

 

 

5,000

 

 

 

5,000

 

 

 

5,000

 

Public warrants

 

 

 

 

 

 

 

 

 

 

 

 

Private placement warrants

 

 

 

 

 

 

 

 

 

 

 

6,667

 

Non-qualified stock options

 

 

1,110

 

 

 

929

 

 

 

1,224

 

 

 

1,075

 

Performance share units

 

 

 

 

 

12

 

 

 

166

 

 

 

142

 

Restricted stock units

 

 

51

 

 

 

82

 

 

 

1,020

 

 

 

531

 

Total antidilutive shares excluded

 

 

6,161

 

 

 

6,023

 

 

 

7,410

 

 

 

13,415

 

 

(1) Contingently issuable shares relate to the earn-out agreement as discussed in Note 13, Other Significant Transactions.