| Earnings Per Share |
Earnings Per Share Basic net income per share is calculated by dividing net income by the weighted average number of shares of common stock outstanding during the period. Diluted net income per share assumes the conversion of all potentially dilutive securities and is calculated by dividing net income by the sum of the weighted average number of shares of common stock outstanding plus all potentially dilutive securities. Dilutive common shares consist primarily of stock options and restricted stock awards. The following table sets forth the computation of basic and diluted earnings per share for the six months ended June 30, 2025 and 2024: | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | | June 30,
2025 | | June 30,
2024 | | June 30,
2025 | | June 30,
2024 | | Numerator: | (in thousands, except share and per share data) | Net income | $ | 15,487 | | | $ | 52,228 | | | $ | 44,779 | | | $ | 91,244 | | | Denominator: | | | | | | | | Basic weighted average shares | 81,441,511 | | | 81,791,792 | | | 81,456,845 | | | 81,339,153 | | Effect of dilutive shares related to stock based compensation1 | 1,514,702 | | | 1,994,430 | | | 1,696,943 | | | 2,093,715 | | Effect of dilutive shares related to contingent consideration2 | — | | | — | | | — | | | 94,849 | | Diluted weighted average shares | 82,956,213 | | | 83,786,222 | | | 83,153,788 | | | 83,527,717 | | | Earnings per share: | | | | | | | | Basic | $ | 0.19 | | | $ | 0.64 | | | $ | 0.55 | | | $ | 1.12 | | Diluted | $ | 0.19 | | | $ | 0.62 | | | $ | 0.54 | | | $ | 1.09 | | | Anti-dilutive shares: | | | | | | | | Shares | 747,383 | | | 437,997 | | | 427,819 | | | 275,357 | | 1 Dilutive shares related to stock options, restricted stock, PSUs and Key Employee Awards (Note 14) | 2 Dilutive shares related to contingent shares issued to the former owners of BASX (Note 17) |
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