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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 and diluted net income (loss) per share for the three and nine months ended September 30, 2025 and 2024 were calculated as follows (in thousands, except per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Numerator: |  |  |  |  |  |  |
Net income (loss) | $ | 12,899 |  |  | $ | (14,033) |  |  | $ | 18,016 |  |  | $ | (62,086) |
Denominator: |  |  |  |  |  |  |
Weighted average shares of common stock outstanding: basic | 210,176 |  |  | 206,905 |  |  | 209,531 |  |  | 206,466 |
Net income (loss) per common share: basic | $ | 0.06 |  |  | $ | (0.07) |  |  | $ | 0.09 |  |  | $ | (0.30) |
Effect of dilutive securities: |  |  |  |  |  |  |
Stock options to purchase common stock | 5,023 |  |  | — |  |  | 5,261 |  |  | — |
Unvested restricted stock unit awards | 4,663 |  |  | — |  |  | 3,532 |  |  | — |
Shares issuable under the employee stock purchase plan | 23 |  |  | — |  |  | 25 |  |  | — |
Dilutive potential common shares | 9,709 |  |  | — |  |  | 8,818 |  |  | — |
Weighted average shares of common stock outstanding: diluted | 219,885 |  |  | 206,905 |  |  | 218,349 |  |  | 206,466 |
Net income (loss) per common share: diluted | $ | 0.06 |  |  | $ | (0.07) |  |  | $ | 0.08 |  |  | $ | (0.30) |
The Company’s potentially dilutive securities include outstanding stock options, unvested restricted stock units and shares issuable under the employee stock purchase plan for the three and nine months ended September 30, 2025 and 2024. For the three and nine months ended September 30, 2025, the dilutive effect of outstanding stock options, restricted stock unit awards, and shares issuable under the employee stock purchase plan was calculated using the treasury method, whereby all such awards are assumed to be exercised at the beginning of the period. The hypothetical proceeds from such exercises, including the average unrecognized stock compensation expense for outstanding stock options, restricted stock units and shares issuable under the employee stock purchase plan, were assumed to be used to purchase outstanding common stock at the average price during the period. The net share impact of dilutive securities was added to the weighted average basic common shares outstanding to calculate weighted average diluted shares outstanding. For the three and nine months ended September 30, 2024, during which the Company recorded a net loss, all potentially dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share, and thus they are considered “anti-dilutive.” For this period, the weighted average number of shares of common stock outstanding used to calculate both basic and diluted net loss per share of common stock is the same. The following table summarizes potential shares of common stock that were excluded from the computation of diluted net income (loss) per share attributable to common stockholders as they were anti-dilutive:
| As of September 30, 2025 |  | As of September 30, 2024
Outstanding stock options | 21,818 |  |  | 38,559 |
Unvested restricted stock unit awards | 373 |  |  | 5,882 |
Total | 22,191 |  |  | 44,441 |

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