Quarterly report pursuant to Section 13 or 15(d)

Earnings per Share (Tables)

v3.24.2.u1
Earnings per Share (Tables)
6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Net Loss Per Share of Common Stock

The following table sets forth the computation of basic and diluted net income per share of common stock:

 

 

 

For the Three Months
Ended June 30,

 

 

For the Six Months
Ended June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

Net income available to common stockholders

 

$

12,618

 

 

$

12,997

 

 

$

10,610

 

 

$

8,999

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding — Basic

 

 

115,758

 

 

 

119,893

 

 

 

116,512

 

 

 

120,073

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

  RSUs

 

 

1,122

 

 

 

1,387

 

 

 

561

 

 

 

694

 

Weighted average common shares outstanding — Diluted

 

 

116,880

 

 

 

121,280

 

 

 

117,073

 

 

 

120,767

 

Net income per share available to common stockholders —
  Basic

 

$

0.11

 

 

$

0.11

 

 

$

0.09

 

 

$

0.07

 

Net income per share available to common stockholders —
  Diluted

 

$

0.11

 

 

$

0.11

 

 

$

0.09

 

 

$

0.07

 

Schedule of Antidilutive Securities Excluded from Computation of Diluted Earnings Per Share

The following potential shares of common stock have been excluded from the computation of diluted net income per share because their effect would have been antidilutive:

 

 

 

As of June 30,

 

 

 

2024

 

 

2023

 

 

 

(in thousands)

 

Stock options

 

 

1,306

 

 

 

1,306

 

Ares warrants

 

 

1,100

 

 

 

1,100

 

Public and Private warrants

 

 

17,333

 

 

 

17,333

 

Series A redeemable preferred stock

 

 

8,525

 

 

 

8,439

 

Ares Put Option

 

 

 

 

*