Net Income Per Share Attributable to Common Stockholders (Tables)

12 Months Ended

Dec. 31, 2021

Net Income Per Share Attributable to Common Stockholders

Outstanding Securities Considered Anti-Dilutive

The following table shows the weighted-average outstanding securities considered anti-dilutive and therefore excluded from the computation of diluted net income per share attributable to common stockholders (in thousands):

	Year Ended December 31,
	2021	2020
Convertible preferred stock	—	—
Common stock options	479	616
Warrants for common stock	—	6
Total	479	622

Reconciliation of Numerator and Denominator Used in Calculation of Basic and Diluted Net (Loss) per Share Available to Common Stockholders

The following is a reconciliation of the numerator (net income) and denominator (number of shares) used in the calculation of basic and diluted net income per share attributable to common stockholders (in thousands):

	Year Ended December 31,
	2021		2020
Numerator
Net income	$	15,798	$	13,298
Less: Series A accumulated dividends		(2,122)		(88)
Less: Series B accumulated dividends		(2,438)		—
Less: Allocation of undistributed earnings to participating securities		(3,451)		(4,417)
Net income available to common stockholders, basic	$	7,787	$	8,793
Add: Adjustments to undistributed earnings allocated to participating securities		181		217
Net income available to common stockholders, diluted	$	7,968	$	9,010
Denominator
Weighted average shares used in computing basic net income per share available to common stockholders		11,288		10,674
Effect of dilutive stock options		900		824
Effect of dilutive warrants		4		5
Weighted average shares used in computing diluted net income per share available to common stockholders		12,192		11,503
Basic net income per share available to common stockholders	$	0.69	$	0.82
Diluted net income per share of common stock	$	0.65	$	0.78