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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 net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of our common stock outstanding. For the calculation of diluted net income per share, net income for basic net income per share is adjusted by the effect of dilutive securities, including awards under our equity compensation plans. Diluted net income per share is computed by dividing the resulting net income by the weighted-average number of fully diluted common shares outstanding. The numerators and denominators of the basic net income (loss) and diluted net income per share computations for our common stock are calculated as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Numerator |  |  |  |  |  |  |
Net income (loss), basic | $ | 26,927 |  |  | $ | 17,594 |  |  | $ | (50,451) |  |  | $ | 20,259 |
Add: interest expense on convertible notes | $ | 1,231 |  |  | $ | 1,274 |  |  | $ | — |  |  | $ | — |
Net income (loss), diluted | $ | 28,158 |  |  | $ | 18,868 |  |  | $ | (50,451) |  |  | $ | 20,259 |
Denominator |  |  |  |  |  |  |
Weighted average common stock outstanding, basic | 117,307 |  |  | 131,133 |  |  | 120,471 |  |  | 130,746 |
Effect of dilutive shares: |  |  |  |  |  |  |
Stock-based compensation plans | 2,966 |  |  | 2,131 |  |  | — |  |  | 2,898 |
Convertible Notes (as converted to common stock) | 16,195 |  |  | 21,543 |  |  | — |  |  | — |
Weighted average common stock outstanding, diluted | 136,468 |  |  | 154,807 |  |  | 120,471 |  |  | 133,644 |
Net income (loss) per share |  |  |  |  |  |  |
Basic | $ | 0.23 |  |  | $ | 0.13 |  |  | $ | (0.42) |  |  | $ | 0.15 |
Diluted | $ | 0.21 |  |  | $ | 0.12 |  |  | $ | (0.42) |  |  | $ | 0.15 |
The following were excluded from the calculation of diluted net income (loss) per share as the effect of their inclusion would have been anti-dilutive (in thousands).
| Three months ended September 30, |  | Nine months ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Outstanding securities not included in diluted net income (loss) per share calculation: |  |  |  |  |  |  |
Stock options and stock awards | 11,095 |  | 8,987 |  | 18,189 |  | 8,172
Convertible Notes (as converted to common stock) | - |  | - |  | 16,195 |  | 21,543
Total | 11,095 |  | 8,987 |  | 34,384 |  | 29,715

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