Net Income Per Share Attributable to Common Stockholders

12 Months Ended

Dec. 31, 2023

Net Income Per Share Attributable to Common Stockholders

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. For the calculation of diluted net income per share, the basic weighted average number of shares of common stock outstanding is increased by the dilutive effect (if any) of stock options, restricted stock units and equity-settled SARs.

The following table provides a reconciliation of the numerators and denominators used in computing basic and diluted net income per share attributable to common stockholders:


	Year Ended December 31,
	2023		2022		2021
Net income attributable to common stockholders	$	123,119	$	103,261	$	25,671

Weighted average number of shares of common stock used in computing net income per share attributable to common stockholders, basic	74,113,591		73,724,341		72,137,174
Net income per share attributable to common stockholders, basic	$	1.66	$	1.40	$	0.36

Weighted average shares used in computing net income per share attributable to common stockholders, basic	74,113,591		73,724,341		72,137,174
Effect of dilutive shares:
Stock options	86,155		—		9,913
Unvested RSUs	237,863		148,487		252,126
Equity-settled SARs	723		—		—
Diluted number of weighted-average shares outstanding	74,438,332		73,872,828		72,399,213
Net income per share attributable to common stockholders, diluted	$	1.65	$	1.40	$	0.35

The following securities were not included in the computation of diluted shares because such securities did not have a dilutive effect:


	As of December 31,
	2023	2022	2021
Stock options	—	782,894	—
Equity-settled SARs	1,941,700	2,596,639	1,683,514
RSUs	61,680	599,398	207,232
Total	2,003,380	3,978,931	1,890,746