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Net Income/(Loss) per Common Share (Tables)

9 Months Ended

Sep. 30, 2025

Earnings Per Share [Abstract]

Summary of Basic and Diluted Net Income/(Loss) per Common Share

The following table presents the calculation of basic and diluted net income/(loss) per common share (amounts in thousands, except per share amounts):

	Three Months Ended September 30,								Nine Months Ended September 30,
	2025				2024				2025				2024
Basic net income/(loss) per share
Numerator:
Net income/(loss)	$	215,715			$	(57,445	)		$	81,339			$	(161,525	)
Denominator:
Weighted-average number of common shares used in net income/(loss) per common share - basic		126,424				124,234				125,971				123,698
Net income/(loss) per common share - basic	$	1.71			$	(0.46	)		$	0.65			$	(1.31	)
Diluted net income/(loss) per share
Numerator:
Net income/(loss)	$	215,715			$	(57,445	)		$	81,339			$	(161,525	)
Adjustment - Interest expense on Convertible Notes		903				—				2,704				—
Adjusted net income/(loss)	$	216,618			$	(57,445	)		$	84,043			$	(161,525	)
Denominator:
Weighted-average number of common shares used in net income/(loss) per common share - basic		126,424				124,234				125,971				123,698
Convertible notes		2,379				—				2,379				—
Stock options to purchase common stock		899				—				994				—
Unvested restricted stock units		350				—				287				—
Shares expected to be purchased under employee stock purchase plan		15				—				22				—
Weighted-average number of common shares used in net income/(loss) per common share - diluted		130,067				124,234				129,653				123,698
Net income/(loss) per common share - diluted	$	1.67			$	(0.46	)		$	0.65			$	(1.31	)

Summary of Potential Common Shares that were Excluded from Calculation of Diluted Net Income/(Loss) Per Share Due to Anti-Dilutive Effect

The following table presents securities excluded from the calculation of diluted net income/(loss) per share due to their anti-dilutive effect (in thousands):

	Three Months Ended September 30,								Nine Months Ended September 30,
	2025				2024				2025				2024
Convertible notes		—				2,379				—				2,379
Stock options to purchase common stock		7,230				8,063				6,284				8,063
Unvested restricted stock units		3,942				4,017				4,328				4,017
Total		11,172				14,459				10,612				14,459

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- References

No definition available.

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482662/260-10-50-1

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