Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2024

(6)

Net Income (Loss) Per Share

The following table sets forth the computation of basic and diluted net income (loss) per share:


	Years Ended December 31,
Numerator:	2024		2023			2022
Net income (loss)	$	190	$	(1,841	)	$	333
Denominator:
Shares used in net income (loss) per common share – basic		67.3		66.8			59.7
Effect of dilutive securities		0.3		—			0.2
Shares used in net income (loss) per common share – diluted		67.6		66.8			59.9
Net income (loss) per common share:
Basic	$	2.82	$	(27.54	)	$	5.57
Diluted	$	2.81	$	(27.54	)	$	5.56

Basic earnings per share is computed by dividing net income (loss) available to common shareholders by the weighted-average number of common shares outstanding during the period.

Diluted net income (loss) per common share is computed by dividing the diluted net income (loss) available to common shareholders by the weighted-average number of shares of common stock and potentially dilutive shares of common stock outstanding during the period. The dilutive effect of equity awards is calculated based on the average stock price for the relevant period, using the treasury stock method. In periods in which a net loss is recognized, the impact of RSUs is not included as they are antidilutive. The dilutive effect of the Convertible Notes is calculated under the if-converted method. Shares that would be issued if the Convertible Notes were converted are not included in the calculation of diluted net income (loss) per common share as the Company’s share price is below the initial conversion price and inclusion would be antidilutive.

In 2024 and 2022, the Company had an immaterial quantity of RSUs that were antidilutive and were excluded from the computation of diluted weighted-average shares.