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Earnings Per Share | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
Earnings Per Share | Earnings Per Share The Company has Class A common stock and Class B common stock outstanding. Because the only difference between the two classes of common stock are related to voting, transfer and conversion rights, the Company has not presented earnings per share under the two-class method, as earnings per share are the same for both Class A common stock and Class B common stock. The following table summarizes the computation of basic and diluted earnings per share for the three and six months ended June 30, 2024 and 2023:
| Three months ended June 30, |  | Six months ended June 30,
(in thousands, except share and per share data) | 2024 |  | 2023 |  | 2024 |  | 2023
Numerator: |  |  |  |  |  |  |
Net income | $ | 12,598 |  |  | $ | 10,132 |  |  | $ | 24,312 |  |  | $ | 19,641 |
Denominator: |  |  |  |  |  |  |
Weighted-average common shares outstanding – basic | 88,331,992 |  |  | 96,524,111 |  |  | 88,563,601 |  |  | 97,042,881 |
Effect of dilutive securities | 3,297,938 |  |  | 1,675,894 |  |  | 3,176,307 |  |  | 2,533,408 |
Weighted-average common shares outstanding – diluted | 91,629,930 |  |  | 98,200,005 |  |  | 91,739,908 |  |  | 99,576,289 |
Net income per common share: |  |  |  |  |  |  |
Basic | $ | 0.14 |  |  | $ | 0.10 |  |  | $ | 0.27 |  |  | $ | 0.20 |
Diluted | $ | 0.14 |  |  | $ | 0.10 |  |  | $ | 0.27 |  |  | $ | 0.20 |
The Company excluded 3,408,439 and 3,411,655 potential common stock equivalents from the computation of diluted EPS for the three and six months ended June 30, 2024, respectively, and 7,161,748 and 5,470,027 potential common stock equivalents from the computation of diluted EPS for the three and six months ended June 30, 2023, respectively, because the effect would have been anti-dilutive. There were 3,373,417 and 5,495,518 potential common stock equivalents outstanding as of June 30, 2024 and 2023, respectively, with market conditions which were not met at the relevant date, that were excluded from the calculation of diluted EPS.

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