v3.26.1
Earnings Per Share
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
Basic and Diluted Earnings Per Share

The components of basic and diluted earnings per share are as follows (in thousands, except share and per share amounts):
Three Months Ended
June 30,		Six Months Ended
June 30,
Numerator: 2026202520262025
Net income$24,208 $34,217 $47,590 $61,929 
Net loss attributable to redeemable noncontrolling interests38 335 239 573 
Net income attributable to common stockholders - basic (A)24,246 34,552 47,829 62,502 
Add back total interest expense, net of tax, attributable to convertible senior notes
2,666 3,249 5,328 6,494 
Net income attributable to common stockholders - diluted (B)$26,912 $37,801 $53,157 $68,996 
Denominator:
Weighted average common shares outstanding — basic (C)49,328,402 49,806,105 49,463,300 49,733,328 
Dilutive effect of convertible senior notes, stock options and restricted stock units6,596,104 10,331,099 6,697,366 10,426,521 
Weighted average common shares outstanding — diluted (D)55,924,506 60,137,204 56,160,666 60,159,849 
Net income attributable to common stockholders per share:
Basic (A/C)$0.49 $0.69 $0.97 $1.26 
Diluted (B/D)$0.48 $0.63 $0.95 $1.15 

The following securities have been excluded from the calculation of diluted weighted average common shares outstanding as the inclusion of these securities would have an anti-dilutive effect:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Stock options800,577 789,688 800,577 698,302 
Restricted stock units8,300 91,570 11,300 — 

Our redeemable noncontrolling interests relate to our 89% equity ownership interest in OpenEye, our 99% equity ownership interest in Noonlight and our 81% equity ownership interest in CHeKT.

We use the treasury stock method when calculating the dilutive impact of the stock options and restricted stock units on net income per share. We use the if-converted method when calculating the dilutive impact of the 2026 Notes and 2029 Notes on net income per share. Prior to the repayment of the 2026 Notes, after August 15, 2025, we were required to pay cash to satisfy the principal portion of our conversion obligation and deliver shares to satisfy any excess conversion value.
The following securities have been included in the calculation of diluted weighted average common shares outstanding:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
2026 Notes — 3,396,950 — 3,396,950 
2029 Notes 5,728,550 5,728,550 5,728,550 5,728,550 

The denominator for diluted net income per share does not include any effect from the capped call transactions we entered into concurrently with the issuance of the 2029 Notes, as this effect would be anti-dilutive. In the event of conversion of the 2029 Notes, shares delivered to us under the capped call will offset the dilutive effect of the shares that we would issue under the 2029 Notes. See Note 12 for further details on our 2029 Notes.