Diluted net income per share is computed by dividing the diluted net income by the weighted-average number of common shares outstanding for the period, including potential dilutive common shares assuming dilutive effect of outstanding common stock options, restricted stock units, common stock warrants, and shares issuable under the employee stock purchase plan. In periods when the Company has incurred a net loss, diluted net loss per share is the same as basic net loss per share because dilutive common shares are not assumed to have been issued if their effect is anti-dilutive.

A reconciliation of net income and the number of shares in the calculation of basic and diluted net income per share is as follows (in thousands, except share and per share amounts):


	Three Months Ended March 31
	2025		2024
Basic net income per common share:
Numerator:
Net income	$	15,059	$	16,898

Denominator:
Weighted-average shares used in computing basic net income per share	85,499,153		96,484,657
Basic net income per share	$	0.18	$	0.18

Diluted net income per common share:
Numerator:
Net income	$	15,059	$	16,898

Denominator:
Weighted-average shares used in computing basic net income per share	85,499,153		96,484,657
Effect of dilutive securities
Options to purchase common stock	3,176,495		3,922,757
Shares issuable under ESPP	—		809
Warrants to purchase common stock	—		291,643
Restricted stock units	632,286		353,067
Total effect of dilutive securities	3,808,781		4,568,276
Weighted-average shares used in computing diluted net income per share	89,307,934		101,052,933
Diluted net income per share	$	0.17	$	0.17

The following weighted-average outstanding shares of potentially dilutive securities were excluded from the computation of diluted income per share for the period presented because including them would have been antidilutive:


	Three Months Ended March 31,
	2025	2024
Options to purchase common stock	14,856,451	12,631,505
Shares issuable under ESPP	2,768	—
Restricted stock units	2,221,536	814,281
Total	17,080,755	13,445,786