Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2025

9. Net income (loss) per share

The following table summarizes the computation of basic and diluted net loss per share of the Company (in thousands except share and per share amounts):


	Three Months Ended March 31,
	2025		2024
Numerator:
Net income (loss)	$	112,879	$	(26,374	)
Denominator:
Weighted-average number of common shares, basic		57,862,674		46,246,889
Weighted-average number of common shares, diluted		59,398,600		46,246,889
Net loss per share, basic	$	1.95	$	(0.57	)
Net loss per share, diluted	$	1.90	$	(0.57	)

As the Company had net income during the three months ended March 31, 2025, the Company’s potential dilutive securities, which include stock options, restricted stock units and performance stock units, were included in the calculation of diluted net income per share attributable to common stockholders. For the three months ended March 31, 2024, the Company’s potential dilutive securities, which include stock options, restricted stock units and performance stock units have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of common stock

outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same for the three months ended March 31, 2024.

The Company excluded the following potential common stock, presented based on amounts outstanding at March 31, 2025 and 2024 from the computation of diluted net loss per share attributable to common stockholders because including them would have had an anti-dilutive effect.


	March 31,
	2025		2024
Outstanding options to purchase common stock		7,214,876		7,439,396
Restricted stock units		589,219		2,410,752
Performance stock units		73,000		—
Total		7,877,095		9,850,148