Note 6 - Net Income Per Share

3 Months Ended

Mar. 31, 2025

Notes to Financial Statements

Earnings Per Share [Text Block]

6. NET INCOME PER SHARE

Basic net income per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding for the period. Diluted net income per share reflects the potential dilution from contingently issuable shares and calculated using the treasury stock method. Contingently issuable shares, including all types of equity awards, are considered outstanding shares of common stock and included in the basic net income per share as of the date that all necessary conditions to earn the awards have been satisfied. Prior to the end of the contingency period, the number of contingently issuable shares included in the diluted net income per share is based on the number of shares, if any, that would be issuable under the terms of the arrangement at the end of the reporting period.

The following table sets forth the computation of basic and diluted net income per share (in thousands, except per-share amounts):

	Three Months Ended March 31,
	2025		2024
Numerator:
Net income	$	133,791	$	92,541
Denominator:
Weighted-average outstanding shares—basic		47,851		48,635
Effect of dilutive securities		155		293
Weighted-average outstanding shares—diluted		48,006		48,928
Net income per share:
Basic	$	2.80	$	1.90
Diluted	$	2.79	$	1.89

Anti-dilutive common stock equivalents were not material for the periods presented.