Basic earnings per share is computed by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding, adjusted for outstanding shares that are subject to repurchase during each period. Diluted earnings per share is computed using the weighted average number of common shares plus the potentially dilutive effect of common stock equivalents (outstanding stock options, restricted stock, restricted stock units and employee stock purchase plans) issued and outstanding at the reporting date, using the treasury stock method. Common stock equivalents that are anti-dilutive are excluded from the computation of weighted average shares outstanding.


	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Numerators:
Net income	$	49,068	$	35,846	$	100,399	$	72,024
Denominators:
Basic weighted average common shares outstanding	33,355,354		33,403,411		33,397,226		33,422,618
Dilutive effect of share-based awards	333,095		427,128		412,329		439,979

Diluted weighted average common shares outstanding	33,688,449		33,830,539		33,809,555		33,862,597
Earnings per share attributable to ExlService Holdings, Inc. stockholders:
Basic	$	1.47	$	1.07	$	3.01	$	2.15
Diluted	$	1.46	$	1.06	$	2.97	$	2.13
Weighted average potentially dilutive shares considered anti-dilutive and not included in computing diluted earnings per share	249,831		—		179,550		541