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Net Income per Share Attributable to Common Stockholders | 6 Months Ended
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Jun. 30, 2026
Earnings Per Share [Abstract] |
Net Income per Share Attributable to Common Stockholders | Net Income per Share Attributable to Common Stockholders The following table presents the calculation of basic and diluted net income per share:
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
(In thousands, except per share amounts) | 2026 |  | 2025 |  | 2026 |  | 2025 |  |
Basic net income per share: |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |
Net income attributable to common stockholders | $ | 35,437 |  |  | $ | 37,027 |  |  | $ | 51,208 |  |  | $ | 75,231 |  |  |
Denominator: |  |  |  |  |  |  |  |  |
Weighted-average shares used to compute net income per share attributable to common stockholders | 104,611 |  |  | 91,097 |  |  | 98,856 |  |  | 91,538 |  |  |
Basic | $ | 0.34 |  |  | $ | 0.41 |  |  | $ | 0.52 |  |  | $ | 0.82 |  |  |
Diluted net income per share: |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |
Net income attributable to common stockholders | $ | 35,437 |  |  | $ | 37,027 |  |  | $ | 51,208 |  |  | $ | 75,231 |  |  |
Interest expense on dilutive convertible notes, net of tax | 1,390 |  |  | 1,733 |  |  | 1,821 |  |  | 3,195 |  |  |
Net income used in diluted calculation | $ | 36,827 |  |  | $ | 38,760 |  |  | $ | 53,029 |  |  | $ | 78,426 |  |  |
Denominator: |  |  |  |  |  |  |  |  |
Number of shares used in basic calculation | 104,611 |  |  | 91,097 |  |  | 98,856 |  |  | 91,538 |  |  |
Weighted-average effect of dilutive securities: |  |  |  |  |  |  |  |  |
Stock Options | 671 |  |  | 689 |  |  | 711 |  |  | 812 |  |  |
RSUs | 3,280 |  |  | 392 |  |  | 2,911 |  |  | 711 |  |  |
PRSUs | 109 |  |  | 36 |  |  | 115 |  |  | 57 |  |  |
MRSUs | 170 |  |  | — |  |  | 158 |  |  | — |  |  |
2026 Convertible Notes | 1,750 |  |  | 8,403 |  |  | — |  |  | 8,403 |  |  |
2030 Convertible Notes | 15,957 |  |  | — |  |  | 15,957 |  |  | — |  |  |
Number of shares used in diluted calculation | 126,548 |  |  | 100,617 |  |  | 118,708 |  |  | 101,521 |  |  |
Diluted net income per share attributable to common stockholders | $ | 0.29 |  |  | $ | 0.39 |  |  | $ | 0.45 |  |  | $ | 0.77 |  |  |
We calculate the potential dilutive effect of the convertible senior notes under the if-converted method. Under this method, diluted earnings per share are determined by assuming that outstanding convertible senior notes were converted into shares of our common stock at the beginning of the reporting period. In connection with the issuance of the convertible senior notes, we entered into the capped call transactions, which were not included for purpose of calculating number of diluted shares outstanding, as their effect would have been anti-dilutive. The capped call transactions are expected to partially offset the potential dilution to our common stock upon any conversion of the convertible senior notes. Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:
| Three Months Ended |  | Six Months Ended
| June 30, |  | June 30,
(In thousands) | 2026 |  | 2025 |  | 2026 |  | 2025 |  |
RSUs | 16 |  |  | 3,957 |  |  | 8 |  |  | 2,982 |  |  |
2026 Convertible Notes | — |  |  | — |  |  | 1,750 |  |  | — |  |  |
Total | 16 |  |  | 3,957 |  |  | 1,758 |  |  | 2,982 |  |  |

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