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Net Income per Common Share
6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Net Income per Common Share Net Income per Common Share
Basic net income per share is computed based on the weighted-average number of common shares outstanding. Diluted net income per share is computed based on the weighted-average number of common shares outstanding, increased by the number of additional shares that would have been outstanding had potentially dilutive common shares been issued and reduced by the number of shares the Company could have repurchased from the proceeds from issuance of the potentially dilutive shares. Potentially dilutive shares of common stock include stock options and other stock-based awards granted under stock-based compensation plans and shares committed to be purchased under the employee stock purchase plan. Performance stock units are excluded from the calculation of dilutive potential common shares until the performance conditions have been satisfied. Anti-dilutive options were excluded from the calculation of diluted weighted average shares outstanding and were 459,386 and 452,239 for the three months ended June 30, 2025 and 2024, respectively, and 446,174 and 371,313 for the six months ended June 30, 2025 and 2024, respectively.
The table below sets forth the computation of basic and diluted net income per share:
Three Months Ended
June 30,
Six Months Ended
June 30,
(in thousands, except share and per share amounts)2025202420252024
Net income$4,427 $4,540 $8,026 $9,808 
Basic - weighted-average shares outstanding:23,900,39025,313,03624,018,11925,473,937
Effect of dilutive securities:
Employee stock options and other201,20259,936273,12799,407
Diluted - weighted-average shares outstanding:24,101,59225,372,97224,291,24625,573,344
Net income per share:
Basic$0.19 $0.18 $0.33 $0.39 
Diluted$0.18 $0.18 $0.33 $0.38