Net Income Per Share

6 Months Ended

Jun. 30, 2023

The computation of net income per share is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
(in thousands, except share and per share amounts)
Basic earnings per share:
Net income	$	16,024	$	13,827	$	25,123	$	37,331
Shares used in computation:
Weighted-average common shares outstanding, basic	216,963,697		214,852,256		216,236,887		213,634,584
Earnings per share, basic	$	0.07	$	0.06	$	0.12	$	0.17

Diluted earnings per share:
Net income	$	16,024	$	13,827	$	25,123	$	37,331
Shares used in computation:
Weighted-average common shares outstanding, basic	216,963,697		214,852,256		216,236,887		213,634,584
Weighted-average effect of potentially dilutive securities:
Unvested common stock subject to forfeiture	1,740,938		5,439,764		2,283,285		6,841,217
Employee stock options	32,133		2,042		14,971		81,850
Restricted stock units	1,179,071		497,578		1,062,834		642,312
Diluted weighted-average common shares outstanding	219,915,839		220,791,640		219,597,977		221,199,963
Diluted net income per share	$	0.07	$	0.06	$	0.11	$	0.17

The following potentially dilutive shares were excluded from the computation of diluted earnings per share for the periods presented because including them would have had an anti-dilutive effect:


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022

Employee stock options	3,050,351	3,245,818	3,050,351	3,245,818
Restricted stock units	4,728,505	6,174,330	8,068,678	3,371,942
Unvested common stock subject to forfeiture	367,133	1,062,247	552,113	511,094

As of June 30, 2023, 6,313,787 PRSUs were not assessed for inclusion in diluted earnings per share, and any potential antidilutive shares were excluded from the table above because they are subject to performance conditions that were not achieved as of such date.