Schedule of Components of Basic and Diluted Net Income Per Share |
The components of basic and diluted net income per share are as follows:
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Three Months Ended September 30, |
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Nine Months Ended September 30, |
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(In thousands, except per share data) |
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2022 |
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2021 |
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2022 |
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2021 |
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Numerator: |
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Net income |
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$ |
24,576 |
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$ |
27,306 |
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$ |
64,257 |
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$ |
22,383 |
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Denominator: |
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Weighted average shares - basic |
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151,429 |
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159,358 |
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154,067 |
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161,334 |
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Common stock equivalents |
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6,875 |
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6,073 |
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6,366 |
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3,474 |
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Weighted average shares - diluted |
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158,304 |
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165,431 |
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160,433 |
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164,808 |
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Net income per share - basic |
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$ |
0.16 |
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$ |
0.17 |
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$ |
0.42 |
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$ |
0.14 |
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Net income per share - diluted |
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$ |
0.15 |
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$ |
0.14 |
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$ |
0.38 |
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$ |
0.14 |
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Antidilutive shares excluded from diluted net income per share: |
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Contingently issuable shares (1) |
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5,000 |
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5,000 |
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5,000 |
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5,000 |
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Public warrants |
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— |
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— |
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— |
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— |
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Private placement warrants |
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— |
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— |
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— |
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6,667 |
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Non-qualified stock options |
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1,110 |
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929 |
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1,224 |
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1,075 |
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Performance share units |
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— |
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12 |
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166 |
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142 |
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Restricted stock units |
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51 |
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82 |
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1,020 |
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531 |
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Total antidilutive shares excluded |
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6,161 |
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6,023 |
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7,410 |
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13,415 |
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(1) Contingently issuable shares relate to the earn-out agreement as discussed in Note 13, Other Significant Transactions.
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