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

NOTE 12. Earnings Per Share

Basic earnings per share is calculated using the weighted average number of shares of Common Stock outstanding during the period. Restricted stock units and employee stock purchase grants are included in the calculation of diluted earnings per share, except when their effect would be anti-dilutive. For the three and six months ended June 30, 2026, 25 thousand and 28 thousand, respectively, restricted stock units were excluded from the computation of diluted earnings per share as their impact would have been antidilutive. For the three and six months ended June 28, 2025, 121 thousand and 70 thousand, respectively, restricted stock units were excluded from the computation of diluted earnings per share as their impact would have been antidilutive. For the

three and six months ended June 30, 2026, 603 thousand shares issuable upon conversion of the Company’s convertible notes were excluded from the computation of diluted earnings per share as their impact would have been antidilutive.

The Company’s basic and diluted earnings per share amounts are as follows:

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 28,

 

 

June 30,

 

 

June 28,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

 

 

(in thousands, except for per share data)

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

$

60,102

 

 

$

33,911

 

 

$

93,852

 

 

$

98,006

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share - weighted average shares outstanding

 

 

49,412

 

 

 

48,925

 

 

 

49,575

 

 

 

49,053

 

Effect of potential dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units and employee stock purchase grants - dilutive shares

 

 

270

 

 

 

91

 

 

 

266

 

 

 

160

 

Diluted earnings per share - weighted average shares outstanding

 

 

49,682

 

 

 

49,016

 

 

 

49,841

 

 

 

49,213

 

Earnings per share:

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.22

 

 

$

0.69

 

 

$

1.89

 

 

$

2.00

 

Diluted

 

$

1.21

 

 

$

0.69

 

 

$

1.88

 

 

$

1.99