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NET INCOME (LOSS) PER COMMON SHARE
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER COMMON SHARE NET INCOME (LOSS) PER COMMON SHARE
Basic net income (loss) per common share is calculated by dividing the net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per common share is calculated using the weighted-average number of shares of common stock outstanding and the effect of potentially dilutive securities outstanding during the period. Potentially dilutive securities consist of stock options, Performance-based RSUs, Time-based RSUs, and stock purchase rights granted under the Employee Share Purchase Plan ("ESPP"). The dilutive effect of these securities are reflected in diluted income (loss) per share by application of the treasury stock method. Potentially dilutive securities are excluded from the computation of diluted net income (loss) per share if their effect is antidilutive.
The rights of the holders of our Class A common stock and Class B common stock are identical, except with respect to voting, and the classes otherwise share equally in dividends and residual net assets on a per share basis. Accordingly, the net income (loss) per common share amounts are the same for Class A common stock and Class B common stock because the holders of each class are entitled to equal per-share dividends or distributions in liquidation in accordance with the Company's Certificate.
For comparative purposes, the weighted-average shares outstanding of BlueTriton have been adjusted by an implied conversion ratio of 212.2-to-1 for the three months ended March 31, 2024 to reflect the effects of the Transaction.
Reconciliations of the numerators and denominators of basic and diluted net income (loss) per common share for the periods presented are as follows:
Three Months Ended March 31,
(Shares in thousands)20252024
Weighted-average common stock outstanding - basic379,251 218,618 
Effects of dilutive securities:
Stock options556 — 
Performance-based RSUs403 — 
Time-based RSUs1,392 — 
ESPP
11 — 
Weighted-average common stock outstanding - diluted381,613 218,618 
The following potentially dilutive shares were excluded from the computation of diluted net income (loss) per share for the periods presented because including them would have been antidilutive:
Three Months Ended March 31,
(Shares in thousands)20252024
Stock options— — 
Performance-based RSUs 1
— — 
Time-based RSUs
146 — 
ESPP
— — 
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1.     Performance-based RSUs represent the number of shares expected to be issued based on the estimated achievement of the performance metric for these awards.