v3.22.4
Net Income Per Share Attributable to Common Stockholders
 12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
Net Income Per Share Attributable to Common Stockholders Net Income Per Share Attributable to Common Stockholders
The Company has two classes of common stock, Class A and Class B. The rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis and the resulting net loss per share attributed to common stockholders will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis.
The following table sets forth the computation of the Company’s basic and diluted net income per share (in thousands, except share and per share data):
Year Ended December 31,
202220212020
(in thousands, except share and per share data)
Numerator:
Net income$28,705 $56,604 $26,613 
Less: Undistributed earnings allocated to participating securities— — (20,187)
Net income attributable to common stockholders – basic$28,705 $56,604 $6,426 
Denominator:
Weighted average common shares outstanding – basic52,278,009 50,184,455 12,642,293 
Net income per share attributable to common stockholders – basic:$0.55 $1.13 $0.51 
Numerator:
Net income attributable to common stockholders - diluted$28,705 $56,604 $7,929 
Denominator:
Weighted average shares outstanding – basic52,278,009 50,184,455 12,642,293 
Options to purchase common stock4,605,927 6,353,779 4,483,589 
Restricted stock12,647 29,662 — 
Employee stock purchase plan shares11,614 60,678 — 
Weighted average shares outstanding – diluted56,908,197 56,628,574 17,125,882 
Net income per share attributable to common stockholders – diluted$0.50 $1.00 $0.46 
The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net income per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive:
Year Ended December 31,
202220212020
Options to purchase common stock
1,016,449671,244846,481
Unvested restricted stock units1,164,817——
ESPP72,522——
Total common stock equivalents excluded from net income per share attributable to common stockholders – diluted
2,253,788671,244846,481