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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 | 9. Net Income (Loss) per Share Basic net income (loss) per common share is computed by dividing the net income (loss) by the weighted average number of shares of common stock outstanding for the period. Diluted net income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding for the period, including potential dilutive common shares assuming the dilutive effect of outstanding stock awards, using the treasury stock method, and outstanding convertible notes, using the if-converted method. A reconciliation of the numerators and the denominators of the basic and dilutive net income per common share computations are as follows (in thousands, except share and per share amounts):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 24,319 |  |  | $ | 4,216 |  |  | $ | 84,908 |  |  | $ | 28,607 |
Add: Interest expense, net of tax, attributable to assumed conversion of convertible senior notes |  |  | 2,580 |  |  |  | — |  |  |  | 7,234 |  |  |  | — |
Net income, diluted |  | $ | 26,899 |  |  | $ | 4,216 |  |  | $ | 92,142 |  |  | $ | 28,607 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average basic common shares outstanding |  |  | 34,112,452 |  |  |  | 33,441,394 |  |  |  | 33,917,006 |  |  |  | 33,108,253 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Convertible senior notes |  |  | 4,893,805 |  |  |  | — |  |  |  | 4,893,805 |  |  |  | — |
Options to purchase common stock |  |  | 1,452,078 |  |  |  | 1,975,523 |  |  |  | 1,381,851 |  |  |  | 1,895,962 |
Restricted stock units |  |  | 287,855 |  |  |  | 266,861 |  |  |  | 211,626 |  |  |  | 202,800 |
Warrants to purchase common stock |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,635 |
Restricted stock awards |  |  | 997 |  |  |  | 174 |  |  |  | 545 |  |  |  | 4,270 |
Employee stock purchase plan |  |  | 836 |  |  |  | — |  |  |  | 5,375 |  |  |  | 2,836 |
Weighted average dilutive common shares outstanding |  |  | 40,748,023 |  |  |  | 35,683,952 |  |  |  | 40,410,208 |  |  |  | 35,218,756 |
Net income per share: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.71 |  |  | $ | 0.13 |  |  | $ | 2.50 |  |  | $ | 0.86 |
Diluted |  | $ | 0.66 |  |  | $ | 0.12 |  |  | $ | 2.28 |  |  | $ | 0.81 |
The Company excluded the following potential common shares, presented based on weighted average shares outstanding, from the computation of diluted net income per share because including them would have had an anti-dilutive effect:
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Convertible senior notes |  |  | — |  |  |  | 4,893,848 |  |  |  | — |  |  |  | 4,893,848 |
Options to purchase common stock |  |  | 316,497 |  |  |  | 37,035 |  |  |  | 606,681 |  |  |  | 323,905 |
Employee stock purchase plan |  |  | — |  |  |  | 16,310 |  |  |  | 12,531 |  |  |  | 13,584 |
Restricted stock units |  |  | 12,964 |  |  |  | 1,002 |  |  |  | 65,387 |  |  |  | 3,949 |
Restricted stock awards |  |  | — |  |  |  | 317 |  |  |  | 1,361 |  |  |  | 106 |
|  |  | 329,461 |  |  |  | 4,948,512 |  |  |  | 685,960 |  |  |  | 5,235,392 |

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