Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

Net Income Per Share

The Company calculates basic net income per common share by dividing net income attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. In periods of net income, diluted net income per share takes into account the effect of potentially dilutive common shares when the effect is dilutive. Potentially dilutive common shares include (i) shares of common stock issuable upon exercise of outstanding stock options and (ii) shares underlying RSUs that are contingently issuable upon achievement of certain service and performance requirements. The effect of potentially dilutive common shares is computed using the treasury stock method.

The following table summarizes the computations of basic and diluted net income per common share:

	Year Ended December 31,
	2024		2023		2022
	(In thousands, except per share data)
Numerator:
Net income attributable to common stockholders - basic and diluted	$	112,776	$	15,415	$	8,722
Denominator:
Weighted average common shares - basic	118,566		125,598		128,255
Weighted average common shares - diluted	119,792		127,215		130,134
Net income attributable to common stockholders per share - basic	$	0.95	$	0.12	$	0.07
Net income attributable to common stockholders per share - diluted	$	0.94	$	0.12	$	0.07

For the year ended December 31, 2022, 0.2 million unvested service-based RSUs were excluded from the computation of basic net income per share and not included in the computation of diluted net income per share, as the effect would be anti-dilutive, and 0.2 million unvested performance-based RSUs were not included in the computation of basic and diluted net income per share, as certain performance criteria have not been satisfied. There were no such shares for the years ended December 31, 2024 or 2023.

The following table presents the incremental number of shares underlying stock options and RSUs outstanding with anti-dilutive effects:

	Year Ended December 31,
	2024	2023	2022
	(In thousands)
Performance-based RSUs	—	—	210