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EARNINGS PER SHARE
 6 Months Ended
Jun. 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 June 30,Six Months Ended June 30,
2025202420252024
Net income
$11,007 $14,033 $18,776 $26,139 
Shares:
Weighted-average common shares outstanding – basic29,843,687 32,698,951 30,213,762 33,187,196 
Effect of dilutive securities
RSUs52,605 84,073 74,974 98,804 
Stock options8,718 110,107 26,517 174,046 
RSAs1,921 32,317 27,708 45,349 
PSUs5,684 165,358 27,108 134,416 
Weighted-average common shares outstanding – diluted29,912,615 33,090,806 30,370,069 33,639,811 
Earnings per common share – basic$0.37 $0.43 $0.62 $0.79 
Earnings per common share – diluted$0.37 $0.42 $0.62 $0.78 

As of June 30, 2025, there were approximately 83.8 thousand stock options, 496.9 thousand RSUs, 257.2 thousand RSAs and 236.1 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 June 30, 2024, there were approximately 213.3 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 980,341 shares and 1,348,214 shares of its common stock in the three and six months ended June 30, 2025, respectively. The effect of these repurchases on the Company’s weighted-average shares outstanding for the three and six months ended June 30, 2025 was a reduction of 880,152 shares and 476,934 shares, respectively, due to the timing of the repurchases.