INCOME (LOSS) PER SHARE (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share of Common Stock

The following table sets forth the computation of basic and diluted net income (loss) per share of Common Stock for the three months ended March 31, 2025 and 2024 (in thousands, except share amounts and per share amounts):


	Three Months Ended March 31,
	2025		2024
Basic and diluted net income (loss) per share:

Numerator
Net income (loss) - continuing operations	$	8,027	$	(11,506)
Less: Net income (loss) attributable to noncontrolling interests	381		765
Net income (loss) attributable to common stockholders - continuing operations	7,646		(12,271)
Net income (loss) attributable to common stockholders - discontinued operations	(471)		—
Basic net income (loss) attributable to common stockholders	$	7,175	$	(12,271)





Denominator
Shares used in computation of basic net income (loss) per share	39,809,354		37,709,971
Weighted-average effect of diluted securities
Stock options	1,594,981		—
RSUs	314,170		—

ESPP Shares	1,150		—

Shares used in computation of diluted net income (loss) per share	41,719,655		37,709,971

Basic net income (loss) per share:
Continuing operations	$	0.19	$	(0.33)
Discontinued operations	(0.01)		—
Basic net income (loss) per share	$	0.18	$	(0.33)

Diluted net income (loss) per share:
Continuing operations	$	0.18	$	(0.33)
Discontinued Operations	(0.01)		—
Diluted net income (loss) per share	$	0.17	$	(0.33)

Schedule of Weighted-Average Potentially Dilutive Instruments

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 from continuing operations:


	Three Months Ended March 31,
	2025	2024
Capped call transactions (1)	788,903	3,376,400
Convertible Senior notes due 2026 (2)	788,903	3,376,400
Stock options	—	3,062,500
Convertible Senior notes due 2027 (2)	6,575,268	—
RSUs	8,743	762,967
PSUs	—	422,371
ESPP	—	10,731
Total	8,161,817	11,011,369

(1)The capped call transactions are expected to reduce potential dilution to our Common Stock upon conversion of the 2026 Notes outstanding principal. Upon conversion of both the capped call transactions and then-outstanding 2026 Notes, there will be minimized economic dilution from the 2026 Notes, as exercise of the capped call transactions reduces dilution from the 2026 Notes that would have otherwise occurred when the price of our Common Stock exceeds the conversion price.

(2)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.