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Net Income Per Share (Tables)
12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of computation of basic and diluted net income per share

The following table shows the computation of basic and diluted net income per share for the years ended December 31, 2025, 2024 and 2023:

 

 

 

Year Ended December 31,

 

(In thousands except per share data)

 

2025

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

Net income, basic

 

$

271,165

 

 

$

23,392

 

 

$

179,722

 

Add: interest expense on 2023 Notes, net of tax effect

 

 

 

 

 

 

 

 

89

 

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

 

 

2,882

 

 

 

3,468

 

 

 

5,116

 

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

 

 

5,776

 

 

 

 

 

 

6,377

 

Net income, diluted

 

$

279,823

 

 

$

26,860

 

 

$

191,304

 

Denominator:

 

 

 

 

 

 

 

 

 

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

 

 

67,395

 

 

 

62,726

 

 

 

65,435

 

Dilutive effect of 2023 Notes

 

 

 

 

 

 

 

 

187

 

Dilutive effect of 2025 Notes

 

 

6,900

 

 

 

11,150

 

 

 

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

 

 

491

 

 

 

311

 

 

 

149

 

Dilutive effect of outstanding warrant

 

 

19

 

 

 

 

 

 

 

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

 

 

84,760

 

 

 

74,187

 

 

 

86,876

 

Net income per share

 

 

 

 

 

 

 

 

 

Basic

 

$

4.02

 

 

$

0.37

 

 

$

2.75

 

Diluted

 

$

3.30

 

 

$

0.36

 

 

$

2.20

 

Schedule of anti-dilutive securities

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

 

 

 

Year Ended December 31,

 

(In thousands)

 

2025

 

 

2024

 

 

2023

 

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

 

 

1,535

 

 

 

1,196

 

 

 

1,333

 

Outstanding stock warrant

 

 

 

 

 

591

 

 

 

591

 

Outstanding 2028 Notes

 

 

 

 

 

9,955

 

 

 

 

Total

 

 

1,535

 

 

 

11,742

 

 

 

1,924