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INCOME (LOSS) PER SHARE | 12 Months Ended
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Dec. 31, 2025
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, incentive shares, and the Notes. If dilutive, those potentially dilutive securities are reflected in diluted net income (loss) per share using the treasury stock method, except for the 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 years ended December 31, 2025, 2024 and 2023 (in thousands, except share amounts and per share amounts):
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Basic and diluted net income (loss) per share: |  |  |  |  |
Numerator |  |  |  |  |
Net Income (loss) - continuing operations | $ | (81,081) |  |  | $ | (56,514) |  |  | $ | (52,934) |
Less: Net income (loss) attributable to noncontrolling interests | 1,823 |  |  | 2,513 |  |  | 2,476 |
Net income (loss) attributable to common stockholders - continuing operations | (82,904) |  |  | (59,027) |  |  | (55,410) |
Net income (loss) attributable to common stockholders - discontinued operations | (616) |  |  | — |  |  | — |
Basic net income (loss) attributable to common stockholders | (83,520) |  |  | (59,027) |  |  | (55,410) |
Denominator |  |  |  |  |
Weighted-average common shares outstanding | 40,299,826 |  |  | 39,170,368 |  |  | 31,243,179 |
Net income (loss) per share: |  |  |  |  |
Continuing operations | $ | (2.06) |  |  | $ | (1.51) |  |  | $ | (1.77) |
Discontinued operations | (0.02) |  |  | — |  |  | — |
Basic and diluted net income (loss) per share | $ | (2.08) |  |  | $ | (1.51) |  |  | $ | (1.77) |
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:
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Capped call transactions (1) | 642,544 |  |  | 3,081,088 |  |  | 3,376,400 |
Convertible Senior notes due 2026 (2) | 643,699 |  |  | 3,081,088 |  |  | 3,376,400 |
Convertible Senior notes due 2027 (2) | 4,102,466 |  |  | 750,438 |  |  | — |
Convertible Senior notes due 2030 (2) | 2,233,491 |  |  | — |  |  | — |
Stock options | 3,062,500 |  |  | 3,062,500 |  |  | 2,477,793 |
RSUs | 689,487 |  |  | 792,675 |  |  | 1,475,683 |
PSUs | 1,294,473 |  |  | 280,807 |  |  | 110,823 |
ESPP | 9,777 |  |  | 11,793 |  |  | 28,139 |
Total | 12,678,437 |  |  | 11,060,389 |  |  | 10,845,238 |
(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 loss on extinguishment of debt, 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 8, Financing Arrangements, for additional information. As of December 31, 2025, there were up to 1,730,068 shares of Common Stock issuable upon vesting of outstanding 2025 PSUs, 889,671 shares of Common Stock issuable upon vesting of outstanding 2024 Executive PSUs and 954,000 shares issuable upon vesting of outstanding Major Rocket incentive shares that were excluded from the table above as none of the applicable market or performance conditions were satisfied as of the end of the period. See Note 12, Compensation Arrangements, for additional information.

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