Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share

v3.24.3
Earnings per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share

10. Earnings per Share

The following table sets forth the computation of basic and diluted net income per share of common stock:

 

 

 

For the Three Months
Ended September 30,

 

 

For the Nine Months
Ended September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

Net income available to common stockholders

 

$

8,228

 

 

$

19,991

 

 

$

18,838

 

 

$

28,990

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding — Basic

 

 

115,771

 

 

 

118,389

 

 

 

116,262

 

 

 

119,505

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

  RSUs

 

 

2,117

 

 

 

1,903

 

 

 

1,080

 

 

 

1,097

 

Weighted average common shares outstanding — Diluted

 

 

117,888

 

 

 

120,292

 

 

 

117,342

 

 

 

120,602

 

Net income per share available to common stockholders —
  Basic

 

$

0.07

 

 

$

0.17

 

 

$

0.16

 

 

$

0.24

 

Net income per share available to common stockholders —
  Diluted

 

$

0.07

 

 

$

0.17

 

 

$

0.16

 

 

$

0.24

 

 

The following potential shares of common stock have been excluded from the computation of diluted net income per share because their effect would have been antidilutive:

 

 

 

As of September 30,

 

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

Stock options

 

 

1,306

 

 

 

1,306

 

Ares warrants

 

 

1,100

 

 

 

1,100

 

Public and Private warrants

 

 

17,333

 

 

 

17,333

 

Series A redeemable preferred stock

 

 

8,547

 

 

 

8,460