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EARNINGS (LOSS) PER SHARE | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
EARNINGS (LOSS) PER SHARE | 14. EARNINGS (LOSS) PER SHARE Basic earnings per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding. Diluted earnings per share is computed by dividing net income by the weighted-average number of shares of common stock and dilutive common stock equivalents outstanding. The following table sets forth the computation of basic and diluted earnings (loss) per common share:
|  | For the Three Months Ended June 30, |  |  | For the Six Months Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
|  | (in thousands, except per share amounts) |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net income (loss) - basic |  | $ | 6,460 |  |  | $ | (23,940 | ) |  | $ | 42,579 |  |  | $ | (540,695 | )
Add: interest expense, net of tax, on the Company's convertible debt |  |  | 340 |  |  |  | — |  |  |  | 769 |  |  |  | — |
Net income (loss) - diluted |  | $ | 6,800 |  |  | $ | (23,940 | ) |  | $ | 43,348 |  |  | $ | (540,695 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding, basic |  |  | 94,618 |  |  |  | 88,743 |  |  |  | 94,305 |  |  |  | 88,466 |
Effect of dilutive securities: |  |  |  |  |  |  |  |  |  |  |  |
Common stock issuable under the Company's equity incentive plans |  |  | 3,095 |  |  |  | — |  |  |  | 3,388 |  |  |  | — |
Common stock issuable under the Company's convertible debt |  |  | 1,431 |  |  |  | — |  |  |  | 1,436 |  |  |  | — |
Weighted-average common shares outstanding, diluted |  |  | 99,144 |  |  |  | 88,743 |  |  |  | 99,129 |  |  |  | 88,466 |
Earnings (loss) per common share, basic |  | $ | 0.07 |  |  | $ | (0.27 | ) |  | $ | 0.45 |  |  | $ | (6.11 | )
Earnings (loss) per common share, diluted |  | $ | 0.07 |  |  | $ | (0.27 | ) |  | $ | 0.44 |  |  | $ | (6.11 | )
The following table summarizes potential shares of common stock that were excluded from the computation of diluted earnings per share as they were anti-dilutive:
|  | As of June 30, 2024 |  |  | As of June 30, 2023 |  |
|  | (in thousands) |  |
Common stock issuable under the Company's equity incentive plans |  |  | 2,879 |  | (1) |  | 12,316 |  | (2)
Common stock issuable under the Company's convertible debt |  |  | 8,100 |  |  |  | 9,542 |  |
Total number of potentially issuable common stock |  |  | 10,979 |  |  |  | 21,858 |  |
(1) As of June 30, 2024, the anti-dilutive common stock issuable under the Company's equity incentive plans excludes 1.2 million shares that are dilutive but have performance or market conditions that were not met as of the end of the period. (2) As of June 30, 2023, the anti-dilutive common stock issuable under the Company's equity incentive plans includes 1.2 million shares that have performance or market conditions that were not met as of the end of the period because these were anti-dilutive as the Company was in a net loss position at the end of the period.

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