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Earnings Per Common Share
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Earnings Per Common Share

12. Earnings per Common Share

The following tables summarize the components of the basic and diluted EPS computations (in thousands, except per share amounts):

 

Three Months
Ended March 31,

 

 

2025

 

 

2024

 

EPS – basic:

 

 

 

 

 

 

Net income (numerator)

 

$

13,158

 

 

$

10,630

 

Weighted average common shares (denominator)

 

 

303,481

 

 

 

270,356

 

Net income per share

 

$

0.04

 

 

$

0.04

 

EPS – diluted:

 

 

 

 

 

 

Net income

 

$

13,158

 

 

$

10,630

 

Effect of interest and amortization expense on convertible notes

 

 

284

 

 

 

1,856

 

Adjusted net income (numerator)

 

$

13,442

 

 

$

12,486

 

Weighted average common shares

 

 

303,481

 

 

 

270,356

 

Effect of dilutive securities – common shares issuable

 

 

17,416

 

 

 

54,377

 

Adjusted weighted average common shares (denominator)

 

 

320,897

 

 

 

324,733

 

Net income per share

 

$

0.04

 

 

$

0.04

 

For the three months ended March 31, 2025, diluted net income per share excluded the weighted average effect of 4.9 million shares of common stock underlying RSUs and Market RSUs and 0.3 million shares of common stock underlying options and PNQs as they were antidilutive.

For the three months ended March 31, 2024, diluted net income per share excluded the weighted average effect of 5.4 million shares of common stock underlying RSUs and Market RSUs and 2.1 million shares underlying options and PNQs as they were antidilutive.