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Note 19 - Earnings per Share
 6 Months Ended
Jun. 30, 2025
Notes to Financial Statements  
Earnings Per Share [Text Block]

19.

Earnings per share

 

Basic earnings per share attributable to Company stockholders is calculated by dividing net income attributable to the Company by the weighted-average number of common shares outstanding for the period. Diluted earnings per share attributable to Company stockholders is computed by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding, assuming all potentially dilutive shares were issued. We apply the treasury stock method to determine the dilutive weighted average common shares represented by unvested restricted stock units, stock options and Employee Stock Purchase Program (“ESPP”) shares.

 

The calculation of basic and diluted earnings per share attributable to Company stockholders for the three and six months ended June 30, 2025 and 2024, respectively, are as follows (in thousands):

 

   

Three Months Ended June 30,

    

Six Months Ended June 30,

  
   

2025

    

2024

    

2025

    

2024

  

Net income

   $ 18,003     $ 15,286     $ 31,951     $ 12,609  
                                 

Basic weighted average number of shares outstanding

     115,445       113,980       115,829       112,078  

Effect of dilutive securities:

                                

Unvested restricted stock units

     46       429       370       1,271  

ESPP shares

     18       23       18       15  

Stock options

     -       492       -       325  

Diluted weighted average number of shares outstanding

     115,509       114,924       116,217       113,689  
                                 

Total basic earnings per share

   $ 0.16     $ 0.13     $ 0.28     $ 0.11  

Total diluted earnings per share

   $ 0.16     $ 0.13     $ 0.27     $ 0.11  

 

For the three and six months ended June 30, 2025, approximately 6.8 million and 5.7 million outstanding equity awards, respectively, were excluded because the exercise price exceeded the average market price of the Company's common stock. For the three and six months ended June 30, 2024, approximately 0.4 million and 0.7 million outstanding equity awards, respectively, were excluded because the exercise price exceeded the average market price of the Company's common stock.