Three Months Ended

March 31,

(in thousands)

2025

2024

Net income

$

70,850

$

40,532

Less: Allocation of earnings to participating securities

(1,407)

(748)

Net income attributable to common stockholders

$

69,443

$

39,784

Allocation of earnings to cash or share settled restricted stock units

464

(85)

Diluted net income attributable to common stockholders

$

69,907

$

39,699

Weighted-average common shares outstanding used in basic earnings per common share

174,014

154,187

Effect of dilutive securities:

Performance-based restricted stock units

355

310

ESPP shares

2

4

Weighted-average common shares outstanding used in diluted earnings per common share

174,371

154,501