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Net Income (Loss) Per Share (Tables)
6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Schedule of computation of basic and diluted net income (loss) per share

The following table shows the computation of basic and diluted net income (loss) per share for the three and six months ended June 30, 2025 and 2024:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In thousands except per share data)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss), basic

 

$

63,688

 

 

$

(34,685

)

 

$

17,104

 

 

$

1,847

 

Add: interest expense on 2025 Notes, net of tax effect

 

 

697

 

 

 

 

 

 

1,396

 

 

 

 

Add: interest expense on 2028 Notes, net of tax effect

 

 

873

 

 

 

 

 

 

1,748

 

 

 

 

Net income (loss), diluted

 

$

65,258

 

 

$

(34,685

)

 

$

20,248

 

 

$

1,847

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares used to compute basic
   net income (loss) per share

 

 

62,865

 

 

 

62,526

 

 

 

62,787

 

 

 

62,856

 

Dilutive effect of 2025 Notes

 

 

11,149

 

 

 

 

 

 

11,150

 

 

 

 

Dilutive effect of 2028 Notes

 

 

9,955

 

 

 

 

 

 

9,955

 

 

 

 

Dilutive effect of options and awards granted under equity
   incentive plan and employee stock purchase plan

 

 

449

 

 

 

 

 

 

435

 

 

 

 

Dilutive effect of outstanding warrant

 

 

34

 

 

 

 

 

 

15

 

 

 

208

 

Weighted-average shares used to compute diluted
   net income (loss) per share

 

 

84,452

 

 

 

62,526

 

 

 

84,342

 

 

 

63,064

 

Net income (loss) per share

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

1.01

 

 

$

(0.55

)

 

$

0.27

 

 

$

0.03

 

Diluted

 

$

0.77

 

 

$

(0.55

)

 

$

0.24

 

 

$

0.03

 

Schedule of anti-dilutive securities

The following common stock equivalents were not included in the computation of diluted net income (loss) per share because their effect was anti-dilutive for the periods presented:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In thousands)

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Outstanding options and awards granted under equity incentive
   plan and employee stock purchase plan

 

 

1,630

 

 

 

1,897

 

 

 

1,389

 

 

 

1,542

 

Outstanding stock warrant

 

 

 

 

 

591

 

 

 

 

 

 

591

 

Outstanding 2025 Notes

 

 

 

 

 

11,150

 

 

 

 

 

 

11,150

 

Outstanding 2028 Notes

 

 

 

 

 

9,955

 

 

 

 

 

 

9,955

 

Total

 

 

1,630

 

 

 

23,593

 

 

 

1,389

 

 

 

23,238