Earnings Per Share Attributable to Common Stockholders

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share Attributable to Common Stockholders

13. Earnings Per Share Attributable to Common Stockholders

Basic earnings per share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares outstanding during the period without consideration for common stock equivalents. Diluted net income per share attributable to common stockholders is computed by dividing net income by the weighted-average number of common shares outstanding during the period and potentially dilutive common stock equivalents, including stock options and restricted stock units, except in cases where the effect of the common stock equivalent would be antidilutive. Potential common stock equivalents consist of common stock issuable upon exercise of stock options and vesting of restricted stock units using the treasury stock method and common stock issuable upon conversion of the Series A Preferred Stock. Upon the closing of the IPO, all shares of the Company’s then-outstanding convertible Series A Preferred Stock automatically converted into an aggregate of 19,284,113 shares of common stock.

The following table presents the calculation of basic and diluted net income per share attributable to common stockholders for the years ended December 31, 2014, 2013 and 2012:

		Year Ended December 31, 2014
		Income (Numerator)			Shares (Denominator)		Per  Share Amount
	(in thousands, except per share data)
Net income		$	24,263
Preferred stock tax distributions			(320	)
Basic EPS
Net income attributable to common stockholders			23,943			73,571	$	0.33
Effect of Dilutive Securities
Preferred stock			320			4,980
Stock options			—			3,147
Diluted EPS
Net income attributable to common stockholders		$	24,263			81,698	$	0.30

		Year Ended December 31, 2013
		Income (Numerator)			Shares (Denominator)		Per Share Amount
	(in thousands, except per share data)
Net income		$	6,747
Preferred stock tax distributions			(1,073	)
Basic EPS
Net income attributable to common stockholders			5,674			40,681	$	0.14
Effect of Dilutive Securities
Preferred stock			1,073			14,390
Stock options			—			1,574
Diluted EPS
Net income attributable to common stockholders		$	6,747			56,645	$	0.12

		Year Ended December 31, 2012
		Income (Numerator)			Shares (Denominator)		Per Share Amount
	(in thousands, except per share data)
Net income		$	7,919
Preferred stock tax distributions			(402	)
Basic EPS
Net income attributable to common stockholders			7,517			31,320	$	0.24
Effect of Dilutive Securities
Preferred stock			402			11,185
Stock options			—			161
Diluted EPS
Net income attributable to common stockholders		$	7,919			42,666	$	0.19

For the years ended December 31, 2014, 2013 and 2012, 407,328, 477,452 and 1,330,521 shares of common stock underlying stock options were excluded from the calculation of diluted net income per share attributable to common stockholders in each period because their effect would have been antidilutive. For the year ended December 31, 2014, 657 shares of common stock underlying restricted stock units were excluded from the calculation of diluted net income per share attributable to common stockholders because their effect would have been antidilutive.