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Earnings per Share | 6 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
Earnings per Share | Earnings per Share The following table sets forth the calculation of the Company's basic and diluted earnings per share for the three and six months ended June 30, 2023 and 2022:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands, except share and per share amounts) | 2023 |  | 2022 |  | 2023 |  | 2022
Basic net income per share: |  |  |  |  |  |  |
Net income | $ | 15,978 |  |  | $ | 58,002 |  |  | $ | 25,292 |  |  | $ | 91,513 |
Weighted-average common shares outstanding during the period | 34,575,338 |  |  | 34,250,706 |  |  | 34,625,561 |  |  | 34,205,593 |
Basic net income per share | $ | 0.46 |  |  | $ | 1.69 |  |  | $ | 0.73 |  |  | $ | 2.68 |
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands, except share and per share amounts) | 2023 |  | 2022 |  | 2023 |  | 2022
Diluted net income per share: |  |  |  |  |  |  |
Net income | $ | 15,978 |  |  | $ | 58,002 |  |  | $ | 25,292 |  |  | $ | 91,513 |
Basic shares outstanding during the period | 34,575,338 |  |  | 34,250,706 |  |  | 34,625,561 |  |  | 34,205,593 |
Plus: Common stock equivalents associated with stock-based compensation | 2,287,957 |  |  | 1,887,283 |  |  | 2,331,372 |  |  | 2,842,494 |
Diluted shares outstanding | 36,863,295 |  |  | 36,137,989 |  |  | 36,956,933 |  |  | 37,048,087 |
Diluted net income per share | $ | 0.43 |  |  | $ | 1.61 |  |  | $ | 0.68 |  |  | $ | 2.47 |
The computation of diluted shares outstanding excluded the following share amounts as their effect would have been anti-dilutive for the three and six months ended June 30, 2023 and 2022:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Outstanding RSUs | 339,173 |  |  | 525,735 |  |  | 328,207 |  |  | 262,868 |
Outstanding PSUs | 284,025 |  |  | 473,371 |  |  | 284,025 |  |  | 236,686 |
Outstanding ESPP shares | 105,559 |  |  | — |  |  | 76,846 |  |  | 16,546 |
Outstanding stock warrants | 5,231,572 |  |  | — |  |  | 5,234,493 |  |  | — |

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