v3.24.3
Earnings Per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic and Diluted Earnings Per Share

The components of basic and diluted earnings per share are as follows (in thousands, except share and per share amounts):
 Three Months Ended
September 30,		Nine Months Ended
September 30,
Numerator: 2024202320242023
Net income$36,456 $19,351 $92,380 $49,169 
Net loss attributable to redeemable noncontrolling interests226 173 1,408 570 
Net income attributable to common stockholders - basic (A)36,682 19,524 93,788 49,739 
Add back total interest expense, net of tax, attributable to convertible senior notes
3,234 593 5,301 1,774 
Net income attributable to common stockholders - diluted (B)$39,916 $20,117 $99,089 $51,513 
Denominator:
Weighted average common shares outstanding — basic (C)49,282,514 49,917,533 49,691,263 49,782,571 
Dilutive effect of convertible senior notes, stock options and restricted stock units10,498,394 4,861,260 7,520,740 4,806,255 
Weighted average common shares outstanding — diluted (D)59,780,908 54,778,793 57,212,003 54,588,826 
Net income attributable to common stockholders per share:
Basic (A/C)$0.74 $0.39 $1.89 $1.00 
Diluted (B/D)$0.67 $0.37 $1.73 $0.94 

The following securities have been excluded from the calculation of diluted weighted average common shares outstanding as the inclusion of these securities would have an anti-dilutive effect:
 Three Months Ended
September 30,		Nine Months Ended
September 30,
 2024202320242023
Stock options590,084 587,476 474,274 587,476 
Restricted stock units7,100 36,000 1,700 87,425 

Our redeemable noncontrolling interests are related to our 86% equity ownership interests in OpenEye, and our 85% equity ownership interest in Noonlight.

We use the treasury stock method when calculating the dilutive impact of the stock options and restricted stock units on net income per share. We use the if-converted method when calculating the dilutive impact of the 2026 Notes and 2029 Notes on net income per share. As a result, we included 3,396,950 shares related to the 2026 Notes within the weighted average shares outstanding when calculating the diluted net income per share for each of the three and nine months ended September 30, 2024 and 2023. We included 5,728,550 and 2,571,575 shares related to the 2029 Notes within the weighted average shares outstanding when calculating the diluted net income per share for each of the three and nine months ended September 30, 2024, respectively. Additionally, we included $3.2 million and $5.3 million of interest expense and debt issuance cost amortization, net of tax, within the numerator of the diluted net income per share for the three and nine months ended September 30, 2024, respectively, as compared to $0.6 million and $1.8 million for the same periods in the prior year.

The denominator for diluted net income per share does not include any effect from the capped call transactions we entered into concurrently with the issuance of the 2029 Notes, as this effect would be anti-dilutive. In the event of conversion of the 2029 Notes, shares delivered to us under the capped call will offset the dilutive effect of the shares that we would issue under the 2029 Notes. See Note 12 for further details on our 2029 Notes and the related capped call transactions.