Earnings per share

3 Months Ended

Mar. 31, 2025

Basic earnings per share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares outstanding during the reporting period. Diluted earnings per share is computed similar to basic earnings per share except that it reflects the potential dilution that could occur if dilutive securities or other obligations to issue common stock were exercised or converted into common stock.

The computations for basic and diluted earnings per share are as follows:


	Three Months Ended
	March 31,
	2025		2024

Net income	$	33,416	$	21,024

Weighted-average common shares outstanding — basic		67,376		66,729
Effect of stock options and restricted stock units		1,023		765

Weighted-average common shares outstanding — diluted		68,399		67,494

Basic earnings	$	0.50	$	0.32
Diluted earnings	$	0.49	$	0.31

For the three months ended March 31, 2025, there were 17 restricted stock units ("RSUs") excluded from the calculation of diluted earnings per share, based on the application of the treasury stock method, as such RSUs were determined to be anti-dilutive. For the three months ended March 31, 2024, there were 240 stock options ("NQSOs") and RSUs excluded from the calculation of diluted earnings per share, based on the application of the treasury stock method, as such NQSOs and RSUs were determined to be anti-dilutive.

For the three months ended March 31, 2025, there were 1,023 RSUs included in the diluted weighted average common shares outstanding. For the three months ended March 31, 2024, there were 765 NQSOs and RSUs included from the calculation of diluted earnings per share based on the application of the treasury stock method.