v3.24.3
Earnings Per Share (EPS)
9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings per Share (EPS)

12. Earnings per Share (EPS)

Basic EPS is calculated by dividing net income (loss) by the weighted-average number of shares outstanding during the period. Diluted EPS is calculated by dividing net income by the weighted-average number of shares outstanding plus the dilutive effect, if any,

of outstanding equity awards using the treasury stock method which includes consideration of unrecognized compensation expenses as additional proceeds.

Basic and diluted net income (loss) attributable to the Class A common stockholders was calculated as follows:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss)

 

$

12,331

 

 

$

3,167

 

 

$

(6,812

)

 

$

5,513

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding —basic

 

 

132,575,301

 

 

 

131,312,483

 

 

 

132,342,203

 

 

 

131,230,882

 

Dilutive effect of restricted stock units

 

 

636,493

 

 

 

1,179,376

 

 

 

—

 

 

 

700,693

 

Dilutive effect of options

 

 

714,961

 

 

 

925,862

 

 

 

—

 

 

 

858,721

 

Weighted-average common shares outstanding — diluted

 

 

133,926,755

 

 

 

133,417,721

 

 

 

132,342,203

 

 

 

132,790,296

 

Net income (loss) per share—basic

 

$

0.09

 

 

$

0.02

 

 

$

(0.05

)

 

$

0.04

 

Net income (loss) per share—diluted

 

$

0.09

 

 

$

0.02

 

 

$

(0.05

)

 

$

0.04

 

The Company’s potentially dilutive securities include restricted stock units and stock options to purchase shares of Class A common stock. The anti-dilutive potential common stock equivalents of 1,324,165 for the three months ended September 30, 2024 were excluded from the computation of diluted net income per share attributable to common stockholders because those stock options to purchase common stock and restricted stock units had an anti-dilutive impact due to the assumed proceeds per share using the treasury stock method being greater than the average fair value of the Company’s common shares for such period. The anti-dilutive potential common stock equivalents of 15,957,827 for the nine months ended September 30, 2024, were excluded from the computation of diluted net loss per share attributable to common stockholders because those options to purchase common stock and unvested restricted stock units had an anti-dilutive impact as the Company reported a net loss attributable to common stockholders for such period. The anti-dilutive potential common stock equivalents of 8,615,405 for the three and nine months ended September 30, 2023, respectively, were excluded from the computation of diluted net income per share attributable to common stockholders because those stock options to purchase common stock and restricted stock units had an anti-dilutive impact due to the assumed proceeds per share using the treasury stock method being greater than the average fair value of the Company’s common shares for those periods.