| Net Income per Share |
Net Income per Share The following table sets forth the computation of basic and diluted net income per share attributable to common stock (in thousands, except per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Numerator: | | | | | | | | | | Net income | | $ | 108,294 | | | $ | 124,608 | | | $ | 221,065 | | | $ | 217,838 | | | Denominator: | | | | | | | | | | Weighted average common shares outstanding, basic | | 71,495 | | | 72,565 | | | 71,460 | | | 73,061 | | | Dilutive effect of potential common stock | | 25 | | | 28 | | | 169 | | | 37 | | | Total shares, diluted | | 71,520 | | | 72,593 | | | 71,629 | | | 73,098 | | | | | | | | | | | | Net income per share, basic | | $ | 1.51 | | | $ | 1.72 | | | $ | 3.09 | | | $ | 2.98 | | | Net income per share, diluted | | $ | 1.51 | | | $ | 1.72 | | | $ | 3.09 | | | $ | 2.98 | | | | | | | | | | |
The number of common share equivalents excluded from the computation of diluted earnings per share because the effect would have been anti-dilutive were as follows (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | MSUs | | 285 | | | — | | | 248 | | | — | | | RSUs | | 1,482 | | | 1,502 | | | 799 | | | 1,375 | | | ESPP | | 1 | | | 3 | | | 1 | | | 2 | | | Total | | 1,768 | | | 1,505 | | | 1,048 | | | 1,377 | |
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