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INCOME (LOSS) PER SHARE | 6 Months Ended
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Jun. 30, 2026
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 convertible senior notes. 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, 2026 and 2025 (in thousands, except share amounts and per share amounts):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Basic and diluted net income (loss) per share: |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |
Income (loss) - continuing operations | $ | (1,456) |  |  | $ | 20,593 |  |  | $ | (14,045) |  |  | $ | 28,620 |
Less: Net income (loss) attributable to noncontrolling interests | 291 |  |  | 256 |  |  | 531 |  |  | 637 |
Net income (loss) attributable to common stockholders - continuing operations | (1,747) |  |  | 20,337 |  |  | (14,576) |  |  | 27,983 |
Net income (loss) attributable to common stockholders - discontinued operations | (16) |  |  | — |  |  | (46) |  |  | (471) |
Basic net income (loss) attributable to common stockholders | $ | (1,763) |  |  | $ | 20,337 |  |  | $ | (14,622) |  |  | $ | 27,512 |
Diluted net income (loss) attributable to common stockholders - continuing operations | $ | (1,747) |  |  | $ | 20,337 |  |  | $ | (14,576) |  |  | $ | 27,983 |
Plus: Interest expense from assumed conversion of convertible senior notes | — |  |  | 2,779 |  |  | — |  |  | 367 |
Net income (loss) attributable to common stockholders plus assumed conversions - continuing operations | $ | (1,747) |  |  | $ | 23,116 |  |  | $ | (14,576) |  |  | $ | 28,350 |
Denominator |  |  |  |  |  |  |
Shares used in computation of basic net income (loss) per share | 38,961,948 |  |  | 40,034,041 |  |  | 39,742,972 |  |  | 39,922,318 |
Weighted-average effect of diluted securities: |  |  |  |  |  |  |
Stock options | — |  |  | 2,094,112 |  |  | — |  |  | 1,844,547 |
RSUs | — |  |  | 417,920 |  |  | — |  |  | 366,045 |
PSUs | — |  |  | 863,728 |  |  | — |  |  | 431,864 |
ESPP Shares | — |  |  | 6,353 |  |  | — |  |  | 3,752 |
Convertible senior notes due 2026 | — |  |  | 788,903 |  |  | — |  |  | 788,903 |
Convertible senior notes due 2027 | — |  |  | 6,575,268 |  |  | — |  |  | — |
Shares used in computation of diluted net income (loss) per share | 38,961,948 |  |  | 50,780,325 |  |  | 39,742,972 |  |  | 43,357,429 |
Basic net income (loss) per share: |  |  |  |  |  |  |
Continuing operations | $ | (0.04) |  |  | $ | 0.51 |  |  | $ | (0.37) |  |  | $ | 0.70 |
Discontinued operations | — |  |  | — |  |  | — |  |  | (0.01) |
Basic net income (loss) per share | $ | (0.04) |  |  | $ | 0.51 |  |  | $ | (0.37) |  |  | $ | 0.69 |
Diluted net income (loss) per share: |  |  |  |  |  |  |
Continuing operations | $ | (0.04) |  |  | $ | 0.46 |  |  | $ | (0.37) |  |  | $ | 0.65 |
Discontinued operations | — |  |  | — |  |  | — |  |  | (0.01) |
Diluted net income (loss) per share | $ | (0.04) |  |  | $ | 0.46 |  |  | $ | (0.37) |  |  | $ | 0.64 |
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 June 30, |  | Six Months Ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Capped call transactions (1) | — |  |  | 788,903 |  |  | 203,625 |  |  | 788,903 |
Convertible Senior notes due 2026 (2) | — |  |  | — |  |  | 203,625 |  |  | — |
Convertible Senior notes due 2027 (2) | 1,575,318 |  |  | — |  |  | 1,575,318 |  |  | 6,575,268 |
Convertible Senior notes due 2030 (2) | 4,516,070 |  |  | — |  |  | 4,516,070 |  |  | — |
Stock options | 2,423,077 |  |  | — |  |  | 2,742,788 |  |  | — |
RSUs | 890,174 |  |  | 5,072 |  |  | 728,872 |  |  | 6,908 |
PSUs | 1,148,392 |  |  | — |  |  | 1,424,538 |  |  | — |
ESPP | 6,265 |  |  | — |  |  | 9,211 |  |  | — |
Total | 10,559,296 |  |  | 793,975 |  |  | 11,404,047 |  |  | 7,371,079 |
(1)The capped call transactions were intended to reduce potential dilution to our Common Stock in the event the 2026 Notes were converted into shares. If the 2026 Notes had converted on or prior to maturity on March 15, 2026, the exercise of the capped call transactions would have substantially offset the economic dilution that would have otherwise resulted from the issuance of shares upon conversion. The capped call transactions expired in connection with the maturity of the 2026 Notes. (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 6, Financing Arrangements, for additional information. As of June 30, 2026, there were up to 3,956,475 shares of Common Stock issuable upon vesting of outstanding PSUs and Major Rocket incentive shares that were excluded from the table above based on our evaluation of the applicable market and performance conditions as of the end of the period. Refer to Note 8, Stockholders' Equity (Deficit) and Compensation Arrangements, for more information.

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