Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of Earnings Per Share, Basic and Diluted

The following table sets forth the computation of basic and diluted

EPS and a reconciliation of the weighted average number of common and common equivalent shares outstanding for the three and six months ended June 30, 2023 and 2022 (in thousands, except share and per share amounts):


	Three months ended June 30,				Six months ended June 30,
	2023		2022		2023		2022
Numerator:
Net income	$	4,582	$	4,852	$	6,491	$	13,751
Denominator:
Weighted-average shares—basic	167,423,656		164,919,979		167,100,292		164,664,480
Effect of dilutive stock options	14,818,670		21,933,701		14,831,121		24,246,816
Effect of dilutive restricted stock	1,090,234		2,049,872		1,163,537		2,231,537
Weighted-average shares—diluted	183,332,560		188,903,553		183,094,950		191,142,834

Earnings per share:
Basic earnings per share	$	0.03	$	0.03	$	0.04	$	0.08
Effect of dilutive stock options and restricted stock	(0.01)		—		—		(0.01)
Diluted earnings per share	$	0.02	$	0.03	$	0.04	$	0.07

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The Company excluded the following weighted average common equivalent shares from the computation of diluted earnings per share for the three and six months ended June 30, 2023 and the three and six months ended June 30, 2022 because including them would have had an anti-dilutive effect:


	Three months ended June 30,		Six months ended June 30,
	2023	2022	2023	2022
Stock options to purchase common stock	11,303,495	4,936,480	10,198,597	3,629,244
Restricted stock units	2,287,331	1,307,017	2,030,447	1,010,997