Quarterly report pursuant to Section 13 or 15(d)

Net Income per Common Share

v3.23.2
Net Income per Common Share
 3 Months Ended
Jun. 30, 2023
Earnings Per Share [Abstract]  
Net Income per Common Share Net Income per Common Share
The reconciliations of the denominators used to calculate basic and diluted net income per common share for the three months ended June 30, 2023 and 2022, respectively, are as follows:
Three Months Ended June 30, 2023 Three Months Ended June 30, 2022
Basic net income per common share
Net income $ 10,938  $ 6,556 
Weighted-average common shares outstanding 33,566,732  33,399,868 
Basic net income per common share $ 0.33  $ 0.20 
Three Months Ended June 30, 2023 Three Months Ended June 30, 2022
Diluted net income per common share    
Net income $ 10,938  $ 6,556 
Weighted-average common shares outstanding 33,566,732  33,399,868 
Common share equivalents:
Stock options 21,664  — 
Restricted and performance stock units 274,543  167,416 
Weighted average shares outstanding – dilutive (1)
33,862,939  33,567,284 
Diluted net income per common share $ 0.32  $ 0.20 
(1) For the three months ended June 30, 2023 and 2022, zero and 179,882 equity awards, respectively, were not included in the calculation of diluted net income per common share, as they would have had an anti-dilutive effect.
The number of common share equivalents, which includes options and both restricted and performance stock units, is computed using the treasury stock method. With regard to the performance stock units, we assume that the associated performance targets will be met at the target level of performance for purposes of calculating diluted net income per common share until such time that it is probable that a