Earnings Per Share

9 Months Ended

Sep. 30, 2022

Earnings Per Share

Earnings Per Share

9. Earnings Per Share

The following table sets out earnings per share of common stock:

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
	(in thousands, except shares and per share data)				(in thousands, except shares and per share data)
Net income	$	4,286	$	246	$	33,411	$	29,215
Weighted average common shares outstanding:
Basic		25,209,368		25,388,630		25,258,333		25,473,006
Common Share equivalents		578,257		655,050		550,054		660,658
Diluted		25,787,625		26,043,680		25,808,387		26,133,664
Earnings per share:
Basic	$	0.17	$	0.01	$	1.32	$	1.15
Diluted	$	0.17	$	0.01	$	1.29	$	1.12

Common share equivalents relate primarily to outstanding stock options, RSUs and PSUs under the 2019 Plan and unpurchased shares under the 2019 ESPP and are calculated using the treasury stock method.