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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 | Net Income (Loss) Per Share Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period, and excludes any dilutive effects of employee stock-based awards and potential shares upon conversion of the convertible senior notes. Diluted net income (loss) per share is computed giving effect to all potentially dilutive shares of common stock, including common stock issuable upon exercise of stock options, vesting of RSUs and PRSUs, and shares of common stock issuable upon conversion of convertible senior notes. The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except per share data):
| Three Months Ended |  | Nine Months Ended
| September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Net income (loss) | $ | 17,973 |  |  | $ | (4,479) |  |  | $ | 19,703 |  |  | $ | (24,372) |
Weighted-average shares used in computing basic and diluted net income (loss) per share: |  |  |  |  |  |  |
Basic | 77,528 |  |  | 74,876 |  |  | 76,716 |  |  | 74,192 |
Diluted | 87,295 |  |  | 74,876 |  |  | 88,413 |  |  | 74,192 |
Basic and diluted net income (loss) per share: |  |  |  |  |  |  |
Basic | $ | 0.23 |  |  | $ | (0.06) |  |  | $ | 0.26 |  |  | $ | (0.33) |
Diluted | $ | 0.21 |  |  | $ | (0.06) |  |  | $ | 0.22 |  |  | $ | (0.33) |
The following securities were excluded from the calculation of diluted net income (loss) per share because their effect would have been anti-dilutive (in thousands):
|  | Three Months Ended |  | Nine Months Ended
|  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Stock options |  | — |  |  | 891 |  |  | — |  |  | 891 |
RSUs (including PRSUs) |  | — |  |  | 5,269 |  |  | — |  |  | 5,269 |
Convertible senior notes |  | — |  |  | 12,646 |  |  | — |  |  | 11,069 |
Total |  | — |  |  | 18,806 |  |  | — |  |  | 17,229 |
The Company used the if-converted method for calculating any potential dilutive effect of its convertible senior notes for the three and nine months ended September 30, 2025 and 2024. Under this method, the Company calculates diluted earnings per share under both the cash and share settlement assumptions to determine which is more dilutive. If share settlement is more dilutive, the Company calculates diluted earnings per share assuming that all of the convertible senior notes were converted solely into shares of common stock at the beginning of the reporting period. The potential impact upon the conversion of the convertible senior notes were included in the calculation of diluted net income per share for the three and nine months ended September 30, 2025 and were excluded in the calculation of diluted net loss per share for the three and nine months ended September 30, 2024 because the effect would have been anti-dilutive.

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