Net Income Per Share

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share

The computation of net income per share is as follows:

	Year Ended December 31,
	2023		2022		2021
(in thousands, except share and per share amounts)
Basic earnings per share:
Net income	$	53,636	$	60,666	$	140,473
Shares used in computation:
Weighted-average common shares outstanding, basic	216,892,525		214,458,284		208,833,827
Earnings per share, basic	$	0.25	$	0.28	$	0.67
Diluted earnings per share:
Net income	$	53,636	$	60,666	$	140,473
Shares used in computation:
Weighted-average common shares outstanding, basic	216,892,525		214,458,284		208,833,827
Weighted-average effect of potentially dilutive securities:
Unvested common stock subject to forfeiture	1,840,180		5,621,136		9,132,579
Employee stock options	48,889		23,100		717,772
Restricted stock units	940,469		486,269		1,073,093
Underwriters’ option to purchase additional shares	—		—		18,798
Diluted weighted-average common shares outstanding	219,722,063		220,588,789		219,776,069
Diluted earnings per share	$	0.24	$	0.28	$	0.64

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:

	Year Ended December 31,
	2023	2022	2021
Employee stock options	2,999,085	3,142,911	—
Restricted stock units	4,435,957	5,742,284	786,500
Unvested Class B common stock subject to forfeiture	415,402	831,952	—