Quarterly report [Sections 13 or 15(d)]

Net Income Per Share (Tables)

v3.26.1
Net Income Per Share (Tables)
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share (in thousands except per share amounts):
Three Months Ended June 30, Six Months Ended June 30,
2026 2025 2026 2025
EPS Numerator:
Net income $ 17,290  $ 59,613  $ 25,944  $ 71,059 
EPS Denominator—Basic:
Weighted-average common shares outstanding 18,541 17,885 18,477 17,848
EPS Denominator—Diluted:
Weighted-average common shares outstanding 18,541 17,885 18,477 17,848
Dilutive effect of stock options, RSUs and shares under Purchase Plan 1,029 277 1,142 320
Weighted-average shares outstanding and common stock equivalents 19,570 18,162 19,619 18,168
Net income per share
Basic $ 0.93  $ 3.33  $ 1.40  $ 3.98 
Diluted $ 0.88  $ 3.28  $ 1.32  $ 3.91 
Schedule of Antidilutive Securities
The potential shares of common stock that were excluded from the computation of diluted net income per share for the periods presented because including them would have been antidilutive are as follows (in thousands):
Three Months Ended June 30, Six Months Ended June 30,
2026 2025 2026 2025
Stock options 1,061  2,955  996  2,937 
RSUs 616  314  507  263 
Total 1,677  3,269  1,503  3,200