Earnings per share

9 Months Ended

Sep. 30, 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				Nine Months Ended
	September 30,				September 30,
	2025		2024		2025		2024

Net income	$	17,724	$	8,852	$	60,835	$	37,549

Weighted-average common shares outstanding — basic		66,684		67,217		66,920		67,021
Effect of stock options and restricted stock units		663		613		807		666

Weighted-average common shares outstanding — diluted		67,347		67,830		67,727		67,687

Basic earnings	$	0.27	$	0.13	$	0.91	$	0.56
Diluted earnings	$	0.26	$	0.13	$	0.90	$	0.55

For the three and nine months ended September 30, 2025, respectively, there were 6 and 8 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 and nine months ended September 30, 2024, respectively, there were 56 and 59 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 and nine months ended September 30, 2025, respectively, there were 663 and 807 RSUs included in the diluted weighted average common shares outstanding. For the three and nine months ended September 30, 2024, respectively, there were 613 and 666 NQSOs and RSUs included in the calculation of diluted earnings per share based on the application of the treasury stock method.