Income (Loss) Per Share

12 Months Ended

Dec. 31, 2024

The following table sets forth the computation of basic and diluted income (loss) per share (in thousands, except per share amounts):


	Year Ended December 31,
	2024		2023		2022
Net income (loss)	$	(33,322)	$	728,642	$	364,189


Plus: Net income (loss) effect of convertible securities	—		—		—
Numerator for diluted income (loss) per common share	$	(33,322)	$	728,642	$	364,189

Basic weighted-average common stock shares outstanding	56,775		60,035		59,544
Plus: dilutive effects of common stock equivalents (1)	—		979		339
Diluted weighted-average common stock shares outstanding	56,775		61,014		59,883

Basic income (loss) per common share	$	(0.59)	$	12.14	$	6.12
Diluted income (loss) per common share	$	(0.59)	$	11.94	$	6.08

Diluted income (loss) per common share excludes the following equity instruments because their effect would be anti-dilutive:
Shares of unvested restricted stock	839		27		234
Shares of stock options	1,544		129		1,868

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(1)Entities with a net loss from continuing operations are prohibited from including potential common shares in the computation of diluted per share amounts. We have utilized the basic shares outstanding to calculate both basic and diluted loss per common share for the year ended December 31, 2024.