Note 5 - Net Income Per Share

3 Months Ended

Mar. 31, 2026

Notes to Financial Statements

Earnings Per Share [Text Block]

5.  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 is 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 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 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 as if the end of the reporting period were the end of the contingency period.

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

	Three Months Ended March 31,
	2026		2025
Numerator:
Net income	$	193,226	$	135,052
Denominator:
Weighted-average outstanding shares—basic		49,097		47,851
Effect of dilutive securities		145		155
Weighted-average outstanding shares—diluted		49,242		48,006
Net income per share:
Basic	$	3.94	$	2.82
Diluted	$	3.92	$	2.81

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