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Net Income Per Share
 12 Months Ended
Dec. 31, 2023
Earnings Per Share [Abstract]  
Net Income Per Share

Note 16. Net Income Per Share

Basic and diluted net income per share was calculated as follows:

 

Year Ended December 31,

 

(in thousands, except share and per share amounts)

 

2023

 

 

2022

 

 

2021

 

Basic net income per share

 

$

0.26

 

 

$

0.43

 

 

$

0.11

 

Diluted net income per share

 

$

0.26

 

 

$

0.43

 

 

$

0.11

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income

 

 

37,293

 

 

 

64,604

 

 

 

16,051

 

Denominator:

 

 

 

 

 

 

 

 

 

Weighted average number of shares outstanding - basic

 

 

144,083,808

 

 

 

150,227,213

 

 

 

140,480,590

 

Add options and restricted stock units to purchase units

 

 

2,142,288

 

 

 

1,579,927

 

 

 

1,206,794

 

Weighted average number of shares outstanding - diluted

 

 

146,226,096

 

 

 

151,807,139

 

 

 

141,687,384

 

For the years ended December 31, 2023, 2022, and 2021, 4,725,584, 2,669,162, and 14,488 stock options and RSUs, respectively, were excluded from the calculation of diluted net income per share because their effect was anti-dilutive.