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NET INCOME PER SHARE
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
NET INCOME PER SHARE NET INCOME PER SHARE
Basic earnings per share is computed by dividing net income for the period by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is calculated by dividing net income by the weighted-average number of common shares and potentially dilutive securities outstanding during the period using the treasury stock method for the Company’s stock options, restricted stock units, and shares issuable under the ESPP, and the if-converted method for the convertible Notes.
As noted in Note 10, “Debt,” the principal amount of the 2022 Notes and the 2024 Notes was settled in cash and the conversion spread value of the 2022 Notes and the 2024 Notes was settled in shares.
The following table sets forth the computation of the basic and diluted net income per share:
Year Ended December 31,
(in thousands, except per share amounts)202420232022
Numerator:
Net income$39,217 $83,994 $28,182 
Denominator:
Weighted average number of shares outstanding:
Basic115,120 111,651 105,080 
2022 Notes— — 2,681 
2024 Notes1,435 4,320 2,441 
Stock options— — 213 
Restricted stock units921 1,355 1,884 
Stock purchase rights under ESPP633 79 
Diluted 117,482 117,359 112,378 
Net income per share:
Basic$0.34 $0.75 $0.27 
Diluted$0.33 $0.72 $0.25 
The following table set forth the potential dilutive shares that were excluded from the computation of diluted net income per share, because their effects were anti-dilutive:
Year Ended December 31,
(in thousands)202420232022
Restricted stock units539 276 38