Earnings Per Share

6 Months Ended

Jun. 30, 2020

Note 3—Earnings Per Share

The Company has two classes of common stock, Class A and Class B. Basic and diluted earnings per share (“EPS”) attributable to common stockholders for Class A and Class B common stock were the same because they were entitled to the same liquidation and dividend rights.

The computation of basic and diluted EPS is as follows (in thousands, except per share amounts):

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2020		2019		2020		2019
Numerator:
Net income	$	25,111	$	27,800	$	49,168	$	37,951
Denominator:
Weighted-average shares outstanding—basic		46,136		44,404		45,818		44,157
Effect of dilutive securities:
Options to purchase common stock		2,177		2,901		2,312		2,926
Employee stock purchase plan shares		83		143		100		133
Restricted stock		258		380		254		357
Weighted-average shares outstanding—diluted		48,654		47,828		48,484		47,573
Basic EPS	$	0.54	$	0.63	$	1.07	$	0.86
Diluted EPS	$	0.52	$	0.58	$	1.01	$	0.80
Anti-dilutive equity awards under stock-based award plans excluded from the determination of diluted EPS		633		668		633		668