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EARNINGS PER SHARE
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
EARNINGS PER SHARE EARNINGS PER SHARE
Basic earnings per share is calculated by dividing net income for the period by the weighted-average number of common shares outstanding for the period. In computing dilutive earnings per share, basic earnings per share is adjusted for the assumed issuance of all applicable potentially dilutive share-based awards, including common stock options, RSUs, RSAs and PSUs. Shares of treasury stock are not considered outstanding and therefore are excluded from the weighted-average number of common shares outstanding calculation.

Below are basic and diluted earnings per share for the periods indicated (in thousands, except for share data):
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Net income
$4,963 $17,297 $23,739 $43,436 
Shares:
Weighted-average common shares outstanding – basic29,616,788 32,366,831 30,012,584 32,911,742 
Effect of dilutive securities
RSUs75,796 63,778 75,248 87,128 
Stock options13,195 69,015 22,076 139,036 
RSAs18,816 46,394 24,744 45,697 
PSUs92,025 186,447 48,747 151,760 
Weighted-average common shares outstanding – diluted29,816,620 32,732,465 30,183,399 33,335,363 
Earnings per common share – basic$0.17 $0.53 $0.79 $1.32 
Earnings per common share – diluted$0.17 $0.53 $0.79 $1.30 

As of September 30, 2025, there were approximately 81.3 thousand stock options, 362.2 thousand RSUs, 178.9 thousand RSAs and 2.5 thousand PSUs excluded from the diluted earnings per share calculation because, under the treasury stock method, the inclusion of these would be anti-dilutive.

As of September 30, 2024, there were approximately 257.5 thousand RSUs and 113.0 thousand RSAs excluded from the diluted earnings per share calculation because, under the treasury stock method, the inclusion of these would be anti-dilutive.

As discussed in Note 13, the Company repurchased 1,348,214 shares of its common stock in the nine months ended September 30, 2025(none in the three months ended September 30, 2025). The effect of these repurchases on the Company’s weighted-average shares outstanding for the three and nine months ended September 30, 2025 was a reduction of 1,348,214 shares and 770,552 shares, respectively, due to the timing of the repurchases.