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Subsequent Events (Tables) | 6 Months Ended
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Jun. 30, 2024
Subsequent Event [Line Items] |
Computation of Basic and Diluted Basic and Diluted (Loss) Earnings per Share per Share | The following table sets forth the computation of basic and diluted (loss) earnings per share (in thousands, except per share data) for the periods indicated:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income - Basic |  | $ | (102,559 | ) |  | $ | 22,243 |  |  | $ | (155,677 | ) |  | $ | 483,436 |
Effect of dilutive shares on net (loss) income: |  |  |  |  |  |  |  |  |  |  |  |
Interest expense on 2025 Convertible Notes, net of tax |  |  | 0 |  |  |  | 1,424 |  |  |  | 0 |  |  |  | 2,838 |
Interest expense on 2027 Convertible Notes, net of tax |  |  | 0 |  |  |  | 725 |  |  |  | 0 |  |  |  | 1,445 |
Net (loss) income - Diluted |  | $ | (102,559 | ) |  | $ | 24,392 |  |  | $ | (155,677 | ) |  | $ | 487,719 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares of class A common stock |  |  | 15,897 |  |  |  | 11,283 |  |  |  | 15,569 |  |  |  | 9,775 |
Weighted average common shares of class B common stock |  |  | 1,964 |  |  |  | 1,964 |  |  |  | 1,964 |  |  |  | 1,964 |
Total weighted average shares of common stock outstanding - Basic |  |  | 17,861 |  |  |  | 13,247 |  |  |  | 17,533 |  |  |  | 11,739 |
Effect of dilutive shares on weighted average common shares outstanding: |  |  |  |  |  |  |  |  |  |  |  |
Stock options |  |  | 0 |  |  |  | 441 |  |  |  | 0 |  |  |  | 398 |
Restricted stock units |  |  | 0 |  |  |  | 37 |  |  |  | 0 |  |  |  | 29 |
Performance stock units |  |  | 0 |  |  |  | 3 |  |  |  | 0 |  |  |  | 2 |
Employee stock purchase plan |  |  | 0 |  |  |  | 1 |  |  |  | 0 |  |  |  | 0 |
2025 Convertible Notes |  |  | 0 |  |  |  | 1,633 |  |  |  | 0 |  |  |  | 1,633 |
2027 Convertible Notes |  |  | 0 |  |  |  | 733 |  |  |  | 0 |  |  |  | 733 |
Total weighted average shares of common stock outstanding - Diluted |  |  | 17,861 |  |  |  | 16,095 |  |  |  | 17,533 |  |  |  | 14,534 |
(Loss) earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic (loss) earnings per share (1) |  | $ | (5.74 | ) |  | $ | 1.68 |  |  | $ | (8.88 | ) |  | $ | 41.18 |
Diluted (loss) earnings per share (1) |  | $ | (5.74 | ) |  | $ | 1.52 |  |  | $ | (8.88 | ) |  | $ | 33.56 |
(1) Basic and fully diluted (loss) earnings per share for class A and class B common stock are the same.
Pro Forma (Unaudited) | Stock Split |
Subsequent Event [Line Items] |
Computation of Basic and Diluted Basic and Diluted (Loss) Earnings per Share per Share | The following table reflects the computation of basic and diluted (loss) earnings per share (in thousands, except per share data) on an unaudited pro forma basis giving effect to the 10-for-1 stock split as if it had been effective for all periods presented:
|  | Pro Forma (Unaudited) |
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income - Basic |  | $ | (102,559 | ) |  | $ | 22,243 |  |  | $ | (155,677 | ) |  | $ | 483,436 |
Net (loss) income - Diluted |  | $ | (102,559 | ) |  | $ | 24,392 |  |  | $ | (155,677 | ) |  | $ | 487,719 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Total weighted average shares of common stock outstanding - Basic |  |  | 178,610 |  |  |  | 132,470 |  |  |  | 175,330 |  |  |  | 117,390 |
Total weighted average shares of common stock outstanding - Diluted |  |  | 178,610 |  |  |  | 160,950 |  |  |  | 175,330 |  |  |  | 145,340 |
(Loss) earnings per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic (loss) earnings per share (1) |  | $ | (0.57 | ) |  | $ | 0.17 |  |  | $ | (0.89 | ) |  | $ | 4.12 |
Diluted (loss) earnings per share (1) |  | $ | (0.57 | ) |  | $ | 0.15 |  |  | $ | (0.89 | ) |  | $ | 3.36 |
(1) Basic and fully diluted (loss) earnings per share for class A and class B common stock are the same.

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