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INCOME (LOSS) PER SHARE
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
INCOME (LOSS) PER SHARE INCOME (LOSS) PER SHARE
Basic and diluted income (loss) per share of common stock are calculated as follows (in thousands, except share and per share data):
YEAR ENDED DECEMBER 31,
20252024
Numerator:
Net income (loss)$87,014 $(187,353)
Denominator:
Weighted-average shares of common stock outstanding - basic37,221,211 37,437,652 
Effect of potentially dilutive stock options419,367 — 
Effect of potentially dilutive employee stock purchase plan shares— — 
Effect of potentially dilutive restricted stock units218,528 — 
Total potentially dilutive securities637,895 — 
Weighted-average shares of common stock outstanding used to compute diluted net income (loss)137,859,106 37,437,652 
Net income (loss) per share of common stock
Basic$2.34 $(5.00)
Diluted$2.30 $(5.00)
The Company excluded the following from the computation of diluted net income (loss) per share attributable to common stockholders as of December 31, 2025 and 2024 because including them would have had an anti-dilutive effect:
YEAR ENDED DECEMBER 31,
20252024
Unvested RSU awards41,207 — 
Options to purchase common stock4,470,286 5,384,760 
Employee stock purchase plan shares8,549 47,694 
Total4,520,042 5,432,454