Earnings Per Share

3 Months Ended

Mar. 31, 2025

3. Earnings Per Share

Basic earnings per share is calculated by dividing the net income by the weighted average number of common shares outstanding for the period. Diluted earnings per share is computed by dividing the net income by the weighted average number of common shares and common stock equivalents outstanding for the period determined using the treasury stock method. For purposes of diluted earnings per share calculation, equity awards and employee stock purchase plan rights are considered to be common stock equivalents.


	Three Months Ended March 31,
(in thousands, except per share data)	2025		2024
Net income - basic and diluted	$	18,987	$	16,555
Weighted average shares outstanding:
Basic		166,808		164,798
Effect of potentially dilutive common shares from:
Equity awards		792		1,729
Employee stock purchase plan rights		68		96
Diluted		167,668		166,623

Earnings per share:
Basic	$	0.11	$	0.10
Diluted	$	0.11	$	0.10

Potentially dilutive shares excluded from per share amounts as their effect would have been anti-dilutive		18,029		15,081