Organization and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2024

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 June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Numerator for basic and diluted earnings per share:
Net income	$	40,797	$	12,420	$	174,015	$	57,559
Denominator:
Weighted average shares outstanding		75,511		74,224		75,433		73,435
Dilutive effect of stock-based awards		1,334		1,556		1,289		1,399
Dilutive effect of 2027 Notes		705		—		624		—
Diluted weighted average shares outstanding		77,550		75,780		77,346		74,834
Net income per common share:
Basic	$	0.54	$	0.17	$	2.31	$	0.78
Diluted	$	0.53	$	0.16	$	2.25	$	0.77

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 June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Stock-based awards		4,777		129		4,778		135
2027 Notes		2,312		3,017		2,393		3,017
2027 Warrants		3,017		3,017		3,017		3,017
Total potentially dilutive securities		10,106		6,163		10,188		6,169

Summary of changes in our estimated warranty reserve

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

	Six Months Ended June 30,
	2024		2023
Balance, beginning of period	$	7,374	$	811
Utilization of reserve		(3,672)		(514)
Warranty expense		1,813		3,143
Balance, end of period	$	5,515	$	3,440