Earnings per Share (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the calculation of the Company's basic and diluted earnings per share for the three and six months ended June 30, 2023 and 2022:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except share and per share amounts)	2023		2022		2023		2022
Basic net income per share:
Net income	$	15,978	$	58,002	$	25,292	$	91,513
Weighted-average common shares outstanding during the period	34,575,338		34,250,706		34,625,561		34,205,593
Basic net income per share	$	0.46	$	1.69	$	0.73	$	2.68


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except share and per share amounts)	2023		2022		2023		2022
Diluted net income per share:
Net income	$	15,978	$	58,002	$	25,292	$	91,513
Basic shares outstanding during the period	34,575,338		34,250,706		34,625,561		34,205,593
Plus: Common stock equivalents associated with stock-based compensation	2,287,957		1,887,283		2,331,372		2,842,494
Diluted shares outstanding	36,863,295		36,137,989		36,956,933		37,048,087
Diluted net income per share	$	0.43	$	1.61	$	0.68	$	2.47

Schedule of Computation of Diluted Shares Outstanding

The computation of diluted shares outstanding excluded the following share amounts as their effect would have been anti-dilutive for the three and six months ended June 30, 2023 and 2022:


	Three Months Ended June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
Outstanding RSUs	339,173	525,735	328,207	262,868
Outstanding PSUs	284,025	473,371	284,025	236,686
Outstanding ESPP shares	105,559	—	76,846	16,546
Outstanding stock warrants	5,231,572	—	5,234,493	—