Earnings Per Share

3 Months Ended

Mar. 31, 2020

Note 3—Earnings Per Share

The Company has two classes of common stock, Class A and Class B. Basic and diluted earnings per share (“EPS”) attributable to common stockholders for Class A and Class B common stock were the same because they were entitled to the same liquidation and dividend rights.

The computation of basic and diluted EPS is as follows (in thousands, except per share amounts):

	Three Months Ended
	March 31,
	2020		2019
Numerator:
Net income	$	24,057	$	10,151
Denominator:
Weighted-average shares outstanding—basic		45,501		43,906
Effect of dilutive securities:
Options to purchase common stock		2,447		2,952
Employee stock purchase plan shares		116		122
Restricted stock		249		334
Weighted-average shares outstanding—diluted		48,313		47,314
Basic EPS	$	0.53	$	0.23
Diluted EPS	$	0.50	$	0.21
Anti-dilutive equity awards under stock-based award plans excluded from the determination of diluted EPS		388		818