v3.26.1
Earnings per Share (Tables)
6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Schedule of Calculation of Basic and Diluted Earnings per Share

The following table presents the calculation of basic and diluted earnings per share:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

Class A

 

 

Class B

 

 

Class A

 

 

Class B

 

 

Class A

 

 

Class B

 

 

Class A

 

 

Class B

 

 

 

(in thousands, except per share data)

 

Numerator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

10,773

 

 

$

7,850

 

 

$

5,669

 

 

$

4,342

 

 

$

18,709

 

 

$

13,672

 

 

$

12,100

 

 

$

9,317

 

Net (income) loss attributable to non-controlling interest

 

 

(37

)

 

 

(27

)

 

 

85

 

 

 

65

 

 

 

306

 

 

 

224

 

 

 

318

 

 

 

245

 

Net income attributable to common
   stockholders — basic

 

 

10,736

 

 

 

7,823

 

 

 

5,754

 

 

 

4,407

 

 

 

19,015

 

 

 

13,896

 

 

 

12,418

 

 

 

9,562

 

Reallocation of undistributed earnings as a result of conversion of Class B to Class A common stock

 

 

7,823

 

 

 

 

 

 

4,407

 

 

 

 

 

 

13,896

 

 

 

 

 

 

9,562

 

 

 

 

Reallocation of undistributed earnings to Class B common stock

 

 

 

 

 

102

 

 

 

 

 

 

49

 

 

 

 

 

 

234

 

 

 

 

 

 

140

 

Net income attributable to common
   stockholders — diluted

 

$

18,559

 

 

$

7,925

 

 

$

10,161

 

 

$

4,456

 

 

$

32,911

 

 

$

14,130

 

 

$

21,980

 

 

$

9,702

 

Denominator

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares used
   to compute earnings per
   share — basic

 

 

41,253

 

 

 

30,060

 

 

 

40,364

 

 

 

30,919

 

 

 

41,244

 

 

 

30,141

 

 

 

40,265

 

 

 

31,005

 

Conversion of Class B to Class A
   common stock outstanding

 

 

30,060

 

 

 

 

 

 

30,919

 

 

 

 

 

 

30,141

 

 

 

 

 

 

31,005

 

 

 

 

Effect of dilutive stock options
   and RSUs

 

 

685

 

 

 

685

 

 

 

615

 

 

 

615

 

 

 

789

 

 

 

789

 

 

 

815

 

 

 

815

 

Weighted average number of shares
   used to compute earnings
   per share — diluted

 

 

71,998

 

 

 

30,745

 

 

 

71,898

 

 

 

31,534

 

 

 

72,174

 

 

 

30,930

 

 

 

72,085

 

 

 

31,820

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

0.26

 

 

$

0.26

 

 

$

0.14

 

 

$

0.14

 

 

$

0.46

 

 

$

0.46

 

 

$

0.31

 

 

$

0.31

 

Diluted

 

$

0.26

 

 

$

0.26

 

 

$

0.14

 

 

$

0.14

 

 

$

0.46

 

 

$

0.46

 

 

$

0.30

 

 

$

0.30

 

Schedule of Antidilutive Securities Excluded from Computation of Basic and Diluted Earnings per Share

The following have been excluded from the computation of basic and diluted earnings per share as their effect would have been anti-dilutive (in thousands):

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Stock options to purchase Class A
   and Class B common stock, and RSUs

 

 

1,347

 

 

 

1,470

 

 

 

1,299

 

 

 

1,224