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INCOME (LOSS) PER SHARE | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
INCOME (LOSS) PER SHARE | INCOME (LOSS) PER SHARE Basic net income (loss) per share is computed using the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share is computed using the weighted-average number of common shares and the effect of potentially dilutive securities outstanding during the period. Potentially dilutive securities include stock options, RSUs, PSUs, ESPP shares, convertible senior notes and capped call transactions. If dilutive, those potentially dilutive securities are reflected in diluted net income (loss) per share using the treasury stock method, except for the convertible senior notes, which are subject to the if-converted method. The following table sets forth the computation of basic and diluted net income (loss) per share of Common Stock for the three and six months ended June 30, 2024 and 2023 (in thousands, except share amounts and per share amounts):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Basic and diluted net income (loss) per share: |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |
Net income (loss) | $ | (9,412) |  |  | $ | (12,004) |  |  | $ | (20,918) |  |  | $ | (40,617) |
Less: Net income (loss) attributable to noncontrolling interests | 623 |  |  | 603 |  |  | 1,388 |  |  | 1,137 |
Net income (loss) attributable to common stockholders | (10,035) |  |  | (12,607) |  |  | (22,306) |  |  | (41,754) |
Denominator |  |  |  |  |  |  |
Weighted-average common shares outstanding | 39,430,656 |  |  | 31,020,493 |  |  | 38,570,401 |  |  | 30,796,943 |
Basic and diluted net income (loss) per share: | $ | (0.25) |  |  | $ | (0.41) |  |  | $ | (0.58) |  |  | $ | (1.36) |
The following weighted-average potentially dilutive instruments are not included in the diluted net income (loss) per share calculations above because they would have had an antidilutive effect on the net income (loss) per share:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
RSUs | 906,954 |  |  | 1,624,378 |  |  | 834,961 |  |  | 1,988,886 |
Stock options | 3,062,500 |  |  | 3,500,000 |  |  | 3,062,500 |  |  | 1,769,444 |
PSUs | 139,242 |  |  | — |  |  | 280,807 |  |  | 959 |
ESPP shares | 10,731 |  |  | 33,165 |  |  | 10,731 |  |  | 47,217 |
Convertible Senior notes due 2026 (1) | 3,376,400 |  |  | 3,376,400 |  |  | 3,376,400 |  |  | 3,376,400 |
Capped call transactions | 3,376,400 |  |  | 3,376,400 |  |  | 3,376,400 |  |  | 3,376,400 |
Total | 10,872,227 |  |  | 11,910,343 |  |  | 10,941,799 |  |  | 10,559,306 |
(1)We apply the if-converted method in computing the effect of our convertible senior notes on diluted net income (loss) per share, whereby the numerator of our diluted net income (loss) per share computations is adjusted for interest expense, net of tax, and the denominator is adjusted for the number of shares into which the convertible senior notes could be converted. The effect is only included in the calculation of income (loss) per share for those instruments for which it would reduce income (loss) per share. See Note 5, Financing Arrangements, for additional information. As of June 30, 2024 there were up to 3,537,145 shares of Common Stock issuable upon vesting of outstanding 2024 Executive PSUs that were excluded from the table above as the shares are not eligible to vest until the beginning of the measurement period, which is nine months after the award date of May 1, 2024.

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