Organization and Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 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 June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Numerator for basic and diluted earnings per share:
Net income	$	12,420	$	50,962	$	57,559	$	105,833
Denominator:
Weighted average shares outstanding		74,224		71,040		73,435		70,995
Dilutive effect of stock-based awards		1,556		1,243		1,399		1,321
Diluted weighted average shares outstanding		75,780		72,283		74,834		72,316
Net income per common share:
Basic	$	0.17	$	0.72	$	0.78	$	1.49
Diluted	$	0.16	$	0.71	$	0.77	$	1.46

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,
	2023		2022		2023		2022
Stock-based awards		129		2,991		135		2,912
2027 Notes		3,017		—		3,017		—
2027 Warrants		3,017		—		3,017		—
Total potentially dilutive securities		6,163		2,991		6,169		2,912

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,
	2023		2022
Balance, beginning of period	$	811	$	2,822
Utilization of reserve		(514)		(1,574)
Warranty expense		3,143		380
Balance, end of period	$	3,440	$	1,628