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Earnings per Share (Tables) | 6 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share, Basic and Diluted | 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 |
Schedule of Computation of Diluted Shares Outstanding | 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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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1 + Details
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