Organization and Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Numerator for basic and diluted earnings per share:
Net income	$	59,397	$	12,131	$	116,956	$	117,964
Denominator:
Weighted average shares outstanding		74,826		71,107		73,904		71,033
Dilutive effect of stock-based awards		1,126		1,418		1,308		1,353
Diluted weighted average shares outstanding		75,952		72,525		75,212		72,386
Net income per common share:
Basic	$	0.79	$	0.17	$	1.58	$	1.66
Diluted	$	0.78	$	0.17	$	1.56	$	1.63

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 September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Stock-based awards		481		2,977		470		2,952
2027 Notes		3,017		—		3,017		—
2027 Warrants		3,017		—		3,017		—
Total potentially dilutive securities		6,515		2,977		6,504		2,952

Summary of changes in our estimated warranty reserve

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

	Nine Months Ended September 30,
	2023		2022
Balance, beginning of period	$	811	$	2,822
Utilization of reserve		(901)		(1,988)
Warranty expense		3,381		161
Balance, end of period	$	3,291	$	995