v3.24.2
NET INCOME PER SHARE (Tables)
 6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Net Income Per Common Share
The following table sets forth the computation of basic and diluted net income per common share for the three and six months ended June 30, 2024 and 2023 (in thousands, except per share amounts):
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Numerator:
   Net income —basic$18,886 $25,763 $27,865 $6,227 
2025 Notes if-converted method adjustment762 1,029 1,790 — 
   Adjusted net income —diluted$19,648 $26,792 $29,655 $6,227 
Denominator:
   Weighted average common shares outstanding—basic46,174 46,088 46,337 46,019 
Computation of diluted securities:
2025 Notes if-converted method adjustment4,122 5,607 4,865 — 
   Dilutive effect of stock options— 108 — 92 
   Dilutive effect of RSUs239 244 162 170 
Dilutive effect of ESPP purchase options4 7 2 4 
   Weighted average common shares outstanding—diluted50,539 52,054 51,366 46,285 
Net income per share:
   Basic net income per common share$0.41 $0.56 $0.60 $0.14 
   Diluted net income per common share$0.39 $0.51 $0.58 $0.13 
Schedule of Potential Dilutive Effect of the Securities Excluded from the Calculation of Diluted Loss Per Share
The following table summarizes the outstanding stock options, RSUs, ESPP purchase options and convertible senior notes that were excluded from the diluted net income per common share calculation because the effects of including these potential shares were antidilutive in the periods presented (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2024202320242023
Weighted average number of stock options7,311 5,404 7,486 5,403 
2025 Notes (1)
— — — 5,607 
Weighted average number of RSUs1,304 701 1,267 759 
Weighted average ESPP purchase options— — 26 — 
      Total8,615 6,105 8,779 11,769 
(1) For the six months ended June 30, 2023, the diluted earnings per share calculation excluded 5.6 million potential common shares assuming conversion of the 2025 Notes, as well as the related $1.0 million of interest expense, net of tax, because these adjustments would have been antidilutive.