Earnings Per Common Share

9 Months Ended

Sep. 30, 2025

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 September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
EPS – basic:
Net income (numerator)	$	7,985	$	11,550	$	21,811	$	20,166
Weighted average common shares (denominator)		306,806		274,998		305,093		272,811
Net income per share	$	0.03	$	0.04	$	0.07	$	0.07
EPS – diluted:
Net income (numerator)	$	7,985	$	11,550	$	21,811	$	20,166

Weighted average common shares		306,806		274,998		305,093		272,811
Effect of dilutive securities – common shares issuable		4,832		9,695		8,246		8,596
Adjusted weighted average common shares (denominator)		311,638		284,693		313,339		281,407
Net income per share	$	0.03	$	0.04	$	0.07	$	0.07

For the three months ended September 30, 2025, diluted net income per share excluded the weighted average effect of 13.7 million shares of common stock underlying RSUs and Market and Performance RSUs, 0.8 million shares of common stock underlying options and PNQs and 7.0 million common shares issuable upon conversion of our senior convertible notes as they were antidilutive.

For the nine months ended September 30, 2025, diluted net income per share excluded the weighted average effect of 6.2 million shares of common stock underlying RSUs and Market and Performance RSUs, 0.3 million shares of common stock underlying options and PNQs and 7.0 million common shares issuable upon conversion of our senior convertible notes as they were antidilutive.

For the three months ended September 30, 2024, diluted net income per share excluded the weighted average effect of 10.4 million shares of common stock underlying RSUs and Market and Performance RSUs, 0.4 million shares of common stock underlying options and PNQs and 44.1 million common shares issuable upon conversion of our senior convertible notes as they were antidilutive.

For the nine months ended September 30, 2024, diluted net income per share excluded the weighted average effect of 9.1 million shares of common stock underlying RSUs and Market RSUs, 0.7 million shares of common stock underlying options and PNQs and 44.1 million common shares issuable upon conversion of our senior convertible notes as they were antidilutive.