Earnings (Net Loss) Per Share

3 Months Ended

Mar. 31, 2024

3. Earnings (Net Loss) Per Share

Basic earnings (net loss) per share is calculated by dividing the net income (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings (net loss) per share is computed by dividing the net income (loss) by the weighted average number of common shares and common stock equivalents outstanding for the period determined using the treasury stock method. For purposes of diluted earnings (net loss) per share calculation, equity awards and employee stock purchase plan rights are considered to be common stock equivalents.


	Three Months Ended March 31,
(in thousands, except per share data)	2024		2023
Net income (loss) - basic and diluted		16,555		(43,021	)
Weighted average shares outstanding:
Basic		164,798		162,263
Effect of potentially dilutive common shares from:
Equity awards		1,729		—
Employee stock purchase plan rights		96		—
Diluted		166,623		162,263

Earnings (net loss) per share:
Basic	$	0.10	$	(0.27	)
Diluted	$	0.10	$	(0.27	)

Potentially dilutive shares excluded from per share amounts as their effect would have been anti-dilutive		15,081		20,764