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NET INCOME PER SHARE
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
NET INCOME PER SHARE NET INCOME PER SHARE
Basic earnings per share is computed by dividing net income for the period by the weighted average number of common shares outstanding during the period. Diluted earnings per shares is calculated by dividing net income by the weighted average number of common shares and potentially dilutive securities outstanding during the period using the treasury stock method for the Company’s stock options, restricted stock units, and shares issuable under the ESPP, and the if-converted method for the 2024 Notes.
As noted in Note 11, “Convertible Notes and Other Debts,” the principal amount of the 2024 Notes will be settled in cash. Therefore, for the purpose of calculating diluted net income per share, it will be assumed that the conversion spread value will be settled in shares.
The following table sets forth the computation of the basic and diluted net income per share:
Year Ended December 31,
(in thousands, except per share amounts)202320222021
Numerator:
Net income$83,994 $28,182 $13,254 
Denominator:
Weighted average number of shares outstanding:
Basic111,651 105,080 101,484 
2022 Notes— 2,681 2,175 
2024 Notes4,320 2,441 653 
Stock options— 213 292 
Restricted stock units1,355 1,884 1,525 
Stock purchase rights under ESPP3379 42 
Diluted 117,359 112,378 106,171 
Net income per share:
Basic$0.75 $0.27 $0.13 
Diluted$0.72 $0.25 $0.12 
The following table set forth the potential dilutive shares that were excluded from the computation of diluted net income per share, because their effects were anti-dilutive:
Year Ended December 31,
(in thousands)202320222021
Stock options— — 8 
Restricted stock units276 38 27 
Stock purchase rights under the ESPP— — 390 
  Total 276 38 425