Net Income Per Share

3 Months Ended

Mar. 31, 2023

Note 13. 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 March 31,
	2023		2022
Basic net income per share	$	0.01	$	0.09
Diluted net income per share	$	0.01	$	0.09
Numerator:
Net income (in thousands)	$	1,925	$	13,013
Denominator:
Weighted average number of shares outstanding - basic		145,862,562		150,538,700
Add stock options to purchase shares and restricted stock units		1,169,304		1,810,106
Weighted average number of shares outstanding - diluted		147,031,866		152,348,806

For the three months ended March 31, 2023 and 2022, 2,913,298 and 2,099,781 stock options were excluded from the calculation of diluted net income per share, respectively, because their effects were anti-dilutive.