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Net Income Per Share
 9 Months Ended
Sep. 30, 2022
Earnings Per Share [Abstract]  
Net Income Per Share

Note 15. Net Income Per Share

Basic weighted-average shares outstanding excludes nonvested restricted stock. Diluted weighted average shares outstanding is similar to basic weighted-average shares outstanding, except that the weighted-average number of shares is increased to include the number of additional common shares that would have been outstanding if the potentially dilutive common share had been issued, including the dilutive impact of nonvested restricted stock. Basic and diluted net income per share was calculated as follows:

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 



 

2022

 

 

2021

 

 

2022

 

 

2021

 

Basic net income per share

 

$

0.11

 

 

$

0.11

 

 

$

0.29

 

 

$

0.00

 

Diluted net income per share

 

$

0.11

 

 

$

0.11

 

 

$

0.29

 

 

$

0.00

 

Numerator:

 



 





 

 



 





 

Net income (in thousands)

 

$

17,209

 

 

$

16,285

 

 

$

44,458

 

 

$

666

 

Denominator:

 



 





 

 



 





 

Weighted average number of shares outstanding - basic

 

 

150,930,340

 



 

149,943,998

 

 

 

150,740,518

 



 

137,232,289

 

Add stock options to purchase shares and restricted stock units

 

 

1,426,967

 

 

 

2,456,421

 

 

 

1,634,694

 

 

 

938,199

 

Weighted average number of shares outstanding - diluted

 

 

152,357,307

 

 

 

152,400,419

 

 

 

152,375,212

 

 

 

138,170,488

 

For the three and nine months ended September 30, 2022, 2,918,315 and 2,614,866 stock options were excluded from the calculation of diluted net income per share, respectively, because their effects were anti-dilutive.