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Net Income Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Summary of Earnings Per Share

The following table sets forth the computation of basic and diluted net income per share attributable to common stockholders for the years ended December 31, 2023, 2022 and 2021:

						Year Ended December 31,
						2023						2022						2021
						(in thousands, except share and per share data)
Basic net income per share:
Numerator
Net income						$	22,070					$	66,620					$	146,082
Net income attributable to common stockholders						$	22,070					$	66,620					$	146,082
Denominator
Basic weighted average common shares outstanding						120,826,644						126,108,329						126,354,597
Basic net income per share attributable to common stockholders						$	0.18					$	0.53					$	1.16
Diluted net income per share:
Numerator
Net income attributable to common stockholders						$	22,070					$	66,620					$	146,082
Denominator
Basic weighted average common shares outstanding						120,826,644						126,108,329						126,354,597
Dilutive effect of time-based restricted stock units outstanding						648,236						153,285						35,838
Diluted weighted average common shares outstanding						121,474,880						126,261,614						126,390,435
Diluted net income per share attributable to common stockholders						$	0.18					$	0.53					$	1.16

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following potentially dilutive outstanding securities for the years ended December 31, 2023, 2022 and 2021 were excluded from the computation of diluted net income per share because their effect would have been anti-dilutive for the periods presented, or the issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the periods:

						Year Ended December 31,
						2023						2022						2021
Unvested and unexercised stock options						140,049						172,461						194,348
Unvested time-based restricted stock units						280,702						411,349						150,000
Unvested performance-based restricted stock units						424,675						159,965						99,289
Total						845,426						743,775						443,637

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- References

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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

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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

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