Basic earnings per share (EPS) is calculated by dividing the net income by the weighted average number of shares of common stock outstanding. Diluted EPS is computed by dividing the net income by the weighted average number of shares of common stock outstanding, plus potential outstanding common stock for the period. Potential outstanding common stock includes stock options and shares underlying RSUs, but only to the extent that their inclusion is dilutive.

The following table presents the calculation of basic and diluted net income per share of common stock for the years ended December 31, 2022, 2021 and 2020:


	Year Ended December 31,
(in thousands, except for share and per share amounts)	2022		2021		2020
Numerator:
Net income	$	6,275	$	33,152	$	23,337
Denominator:
Weighted average shares outstanding, basic	56,461,877		55,548,122		54,427,683
Effect of dilutive securities	521,294		1,373,714		763,119
Weighted average shares outstanding, diluted	56,983,171		56,921,836		55,190,802
Net income per share, basic and diluted:
Basic	$	0.11	$	0.60	$	0.43
Diluted	$	0.11	$	0.58	$	0.42
Antidilutive securities excluded from calculations of diluted net income per share	4,786,891		2,176,944		3,407,409