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Net Income (Loss) Per Share | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | Net Income (Loss) Per Share Basic net income per share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares outstanding during the period adjusted to include the effect of potentially dilutive securities. Potentially dilutive securities are excluded from the computation of dilutive EPS in periods in which the effect would be antidilutive. The computation of the Company’s basic and diluted net income (loss) per share is as follows (in thousands, except per share amounts):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Numerator: |  |  |  |  |  |  |  |
Net income (loss) attributable to common stockholders |  | $ | 16,589 |  |  | $ | (83,766) |  |  | $ | 346,373 |  |  | $ | (32,510) |
Debt discount amortization |  | 513 |  |  | — |  |  | 1,800 |  |  | — |
Net income (loss) available to common stockholders |  | $ | 17,102 |  |  | $ | (83,766) |  |  | $ | 348,173 |  |  | (32,510) |
Denominator: |  |  |  |  |  |  |  |
Weighted average shares used to compute net income (loss) per share attributable to common stockholders, basic |  | 230,980 |  |  | 223,695 |  |  | 228,868 |  |  | 222,078 |
Weighted average effect of potentially dilutive shares to purchase common stock |  | 36,493 |  |  | — |  |  | 33,328 |  |  | — |
Weighted average shares used to compute net income (loss) per share attributable to common stockholders, diluted |  | 267,473 |  |  | 223,695 |  |  | 262,196 |  |  | 222,078 |
Net income (loss) per share attributable to common stockholders |  |  |  |  |  |  |  |
Basic |  | $ | 0.07 |  |  | $ | (0.37) |  |  | $ | 1.51 |  |  | $ | (0.15) |
Diluted |  | $ | 0.06 |  |  | $ | (0.37) |  |  | $ | 1.33 |  |  | $ | (0.15) |
The following shares were excluded from the computation of diluted net income (loss) per share as the impact of including those shares would be anti-dilutive (in thousands):
|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Outstanding stock options |  | 1,916 |  |  | 1,315 |  |  | 2,355 |  |  | 1,755 |
Unvested restricted stock units |  | 2,594 |  |  | 2,568 |  |  | 9,317 |  |  | 7,924 |
Convertible Senior Notes (if converted) |  | — |  |  | 30,783 |  |  | — |  |  | 14,976 |
Total |  | 4,510 |  |  | 34,666 |  |  | 11,672 |  |  | 24,655 |

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