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Net (loss) income per share

6 Months Ended

Jun. 30, 2025

Net (loss) income per share

Net (loss) income per share

7. Net (loss) income per share

Basic and diluted net (loss) income per share is computed by dividing net (loss) income by the weighted-average number of common shares outstanding.

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


		Three Months Ended June 30,								Six Months Ended June 30,
		2025			2024					2025			2024
Numerator:
Net (loss) income, basic		$	(64,849)		$	(99,179)				$	801,713		$	(190,755)
Add: Interest expense, net of tax, on the Company's 2026 Convertible Notes			—			—					2,161			—
Net (loss) income, diluted		$	(64,849)		$	(99,179)					803,874			(190,755)
Denominator:
Weighted-average number of shares outstanding, basic			78,151,240			76,725,070					78,438,830			76,610,598
Effect of dilutive securities:
Common stock issuable under the Company's equity incentive plans			—			—					2,589,633			—
Common stock issuable under the Company's 2026 Convertible Notes			—			—					5,474,115			—
Weighted-average common shares outstanding, diluted			78,151,240			76,725,070					86,502,578			76,610,598
Net (loss) income per common share, basic		$	(0.83)	*	$	(1.29)	*			$	10.22			(2.49)	*
Net (loss) income per common share, diluted		$	(0.83)	*	$	(1.29)	*			$	9.29		$	(2.49)	*

* In the three months ended June 30, 2025, and the three and six months ended June 30, 2024, the Company experienced a net loss and therefore did not report any dilutive share impact.

The following table shows historical common share equivalents outstanding, which are not included in the above calculation, as the effect of their inclusion is anti-dilutive during each period. The anti-dilutive shares are calculated as the unweighted outstanding shares as of the reporting period end date that are antidilutive using the treasury stock method.


		As of June 30,
		2025		2024
Stock options		2,484,275		9,281,739
Unvested restricted stock units		3,818,644		3,602,845
Total		6,302,919		12,884,584