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Net Income (Loss) Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share Net Income (Loss) Per Share
The following table presents the basic and diluted net income (loss) per share:
Three Months EndedNine Months Ended
September 30, 2025September 30, 2024September 30, 2025September 30, 2024
(in thousands, except per share data)
Basic Net Income (Loss) Per Share:
Net income (loss)$20,058 $5,214 $21,563 $(13,621)
Weighted-average common shares outstanding used to compute basic net income (loss) per share
143,009 141,270 142,176 140,376 
Basic net income (loss) per share
$0.14 $0.04 $0.15 $(0.10)
Diluted Net Income (Loss) Per Share:
Net income (loss) used to calculate diluted income (loss) per share
$20,058 $5,214 $21,563 $(13,621)
Denominator:
Weighted-average common shares used to compute basic net income (loss) per share143,009 141,270 142,176 140,376 
Dilutive effect of weighted-average restricted stock units6,124 4,654 4,887 — 
Dilutive effect of weighted-average common stock options2,412 1,955 2,153 — 
Dilutive effect of weighted-average performance stock units1,569 796 1,260 — 
Dilutive effect of weighted-average Employee Stock Purchase Plan ("ESPP") shares52 22 40 — 
Weighted-average shares used to compute diluted net income (loss) per share153,166 148,697 150,516 140,376 
Diluted net income (loss) per share$0.13 $0.04 $0.14 $(0.10)
The following weighted-average shares have been excluded from the calculation of diluted net income (loss) per share attributable to common stockholders for each period presented because they were anti-dilutive:
Three Months EndedNine Months Ended
September 30, 2025September 30, 2024September 30, 2025September 30, 2024
(in thousands)(in thousands)
Unvested restricted stock units— — — 3,293 
Options to purchase common stock— — — 1,744 
Unvested performance stock units— — — 546 
ESPP shares
— — — 47 
Convertible Senior Notes3,210 3,210 3,210 3,210 
Total shares excluded from diluted net income (loss) per share
3,210 3,210 3,210 8,840 

As of September 30, 2025, the performance stock units granted during 2021, 2023, 2024, and 2025 had expected achievement levels of 0%, 150%, 150%, and 150%, respectively. The performance stock units granted during 2022 vested on February 1, 2025 with an achievement of approximately 125%. As of September 30, 2024, the performance stock units granted in 2021, 2022, 2023, and 2024 had expected achievement levels of 0%, 99%, 115%, and 150%, respectively. These expected and actual achievement levels are included in the calculation of weighted-average shares in the tables above. Refer to Note 11 for additional information related to performance stock units.
For the three and nine months ended September 30, 2025 and 2024, the number of shares that would be issuable assuming conversion of all of the Convertible Senior Notes (as defined in Note 9) was approximately 3,210,098 and were excluded from the calculation of diluted net income (loss) per share because they were anti-dilutive. The Convertible Senior Notes have an initial
conversion rate of 15.6539 shares of common stock per $1,000 principal amount of the Convertible Senior Notes, which will be subject to anti-dilution adjustments in certain circumstances.