The following table summarizes the computation of basic and diluted net income per share of our common stock for the three months ended June 30, 2025 and 2024:


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
	(in thousands, except share and per share data)
Numerator:
Net income used to calculate net income, basic	$	8,338	$	6,538	$	10,443	$	7,944

Denominator:
Weighted-average common shares outstanding, basic	64,441,000		62,496,289		64,140,087		62,201,182
Weighted-average effect of dilutive shares:
Dilutive effect of equity incentive plans	255,992		570,460		322,231		750,328
Dilutive effect of convertible senior notes	—		11,183,611		—		11,183,611
Weighted-average common shares outstanding, diluted	64,696,992		74,250,360		64,462,318		74,135,121

Net income per share, basic	$	0.13	$	0.10	$	0.16	$	0.13
Net income per share, diluted	$	0.13	$	0.09	$	0.16	$	0.11

We intend to settle any conversion of our 2027 Notes and 2029 Notes in cash, shares, or a combination thereof. The dilutive impact of the Notes for our calculation of diluted net income per share is considered using the if-converted method. For the three and six months ended June 30, 2025 and 2024, the shares underlying the Notes were not considered in the calculation of diluted net income per share as the effect would have been anti-dilutive.

In connection with the issuance of the 2025 Notes, the 2027 Notes and the 2029 Notes, we entered into the 2025 Capped Calls, 2027 Capped Calls and 2029 Capped Calls, which were not included for the purpose of calculating the number of diluted shares outstanding, as their effect would have been anti-dilutive.

As of June 30, 2025, the 2027 Notes and the 2029 Notes were not convertible at the option of the holder. As of June 30, 2024, the 2025 Notes, the 2027 Notes and the 2029 Notes were not convertible at the option of the holder. We had not received any conversion notices through the issuance date of our unaudited condensed consolidated financial statements. For disclosure purposes, we have calculated the potentially dilutive effect of the conversion spread, which is included in the table below. The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding for the respective periods below because they would have been anti-dilutive:


	Three Months Ended June 30,		Six Months Ended June 30,
	2025	2024	2025	2024
Options to purchase common stock	—	595,498	—	595,498
Unvested restricted stock units	—	3,644,982	—	3,644,982
Common stock issued in conjunction to acquisitions	342,962	36,923	338,527	36,923
Shares to be issued under ESPP	129,195	85,855	129,195	85,855
Convertible senior notes	10,429,891	11,183,611	10,429,891	11,183,611
Total	10,902,048	15,546,869	10,897,613	15,546,869