Basic earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding stock options, unvested equity-settled RSUs and the stock to be issued under the Company’s ESPP. The dilutive effect of potentially dilutive securities is reflected in diluted earnings per share by application of the treasury stock method.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator for basic and diluted earnings per share:
Net income	$	102,979	$	88,026	$	185,500	$	161,508
Numerator for basic and diluted earnings per share	$	102,979	$	88,026	$	185,500	$	161,508

Denominator:
Weighted average common shares for basic earnings per share	52,197		56,319		52,991		56,548
Net effect of dilutive equity awards and stock issuable under the ESPP	70		217		229		350
Weighted average common shares for diluted earnings per share	52,267		56,536		53,220		56,898

Net income per share:
Basic	$	1.97	$	1.56	$	3.50	$	2.86
Diluted	$	1.97	$	1.56	$	3.49	$	2.84

During the three and six months ended June 30, 2026, the number of shares underlying equity-based awards that were excluded from the calculation of diluted earnings per share as their effect would be anti-dilutive was 2.636 million and 1.746 million, respectively.

During the three and six months ended June 30, 2025, the number of shares underlying equity-based awards that were excluded from the calculation of diluted earnings per share as their effect would be anti-dilutive was 1.409 million and 1.199 million shares, respectively.