v3.25.1
Organization and Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Changes in our Estimated Warranty Reserve Changes in our estimated product warranty liabilities were as follows (in thousands):
Three Months Ended March 31,
20252024
Balance, beginning of period$8,284 $7,374 
Utilization of reserve(1,701)(2,207)
Warranty expense3,779 1,119 
Balance, end of period$10,362 $6,286 
Schedule of Weighted Average Number of Shares Outstanding and Earnings Per Share
The calculation of the weighted average number of shares outstanding and earnings per share is as follows (in thousands except per share data):
Three Months Ended March 31,
20252024
Numerator for basic and diluted earnings per share:
Net income$87,980 $133,352 
Denominator:  
Weighted average shares outstanding76,890 75,355 
Dilutive effect of stock-based awards1,714 1,243 
Dilutive effect of 2027 Notes (1)
1,610 534 
Dilutive effect of 2027 Warrants1,270 — 
Diluted weighted average shares outstanding81,484 77,132 
Net income per common share:
Basic$1.14 $1.77 
Diluted$1.08 $1.73 
(1)The impact of the early repurchase of a portion of the 2027 Notes is weighted based upon the number of days in each corresponding period of time for (a) the period between January 1, 2025 and the closing date of the repurchase, which includes the total amount of shares issuable upon a conversion of all of the 2027 Notes; and (b) subsequent to the closing date of the repurchase through March 31, 2025, which includes the amount of shares issuable upon a conversion of the 2027 Notes that remain outstanding after the early repurchase. Refer to Note 10 for additional details.
Schedule of Potentially Dilutive Securities Excluded in Calculation of Diluted Net Income Per Share
Potentially dilutive securities that are not included in the calculation of diluted net income per share because doing so would be antidilutive are as follows (in thousands):
Three Months Ended March 31,
20252024
Stock-based awards3,913 308 
2027 Notes511 2,483 
2027 Warrants1,746 3,017 
Total potentially dilutive securities6,170 5,808