Organization and Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2023

Organization and Summary of Significant Accounting Policies

Schedule of weighted average number of shares outstanding and earnings per share

The calculation of the weighted average number of shares outstanding and earnings per share are as follows (in thousands except per share data):

	Three Months Ended March 31,
	2023		2022
Numerator for basic and diluted earnings per share:
Net income	$	45,139	$	54,871
Denominator:
Weighted average shares outstanding		72,638		70,950
Dilutive effect of stock-based awards		1,242		1,399
Diluted weighted average shares outstanding		73,880		72,349
Net income per common share:
Basic	$	0.62	$	0.77
Diluted	$	0.61	$	0.76

Schedule of potentially dilutive securities excluded in calculation of diluted net income per share

Potentially dilutive securities that are not included in the calculation of diluted net income per share because doing so would be antidilutive are as follows (in thousands):

	Three Months Ended March 31,
	2023		2022
Stock-based awards		1,469		2,942
2027 Notes		3,017		—
2027 Warrants		3,017		—
Total potentially dilutive securities		7,503		2,942

Summary of changes in our estimated warranty reserve

Changes in our estimated product warranty liabilities were as follows (in thousands):

	Three Months Ended March 31,
	2023		2022
Balance, beginning of period	$	811	$	2,822
Utilization of reserve		(438)		(1,434)
Warranty expense		2,928		116
Balance, end of period	$	3,301	$	1,504