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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 and diluted income (loss) per share of common stock are calculated as follows (in thousands, except share and per share data):
| THREE MONTHS ENDED JUNE 30, |  | SIX MONTHS ENDED JUNE 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Numerator: |  |  |  |  |  |  |
Net income (loss) attributable to common stockholders - basic and diluted | $ | (28,710) |  |  | $ | (30,696) |  |  | $ | (52,418) |  |  | $ | 117,755 |
Denominator: |  |  |  |  |  |  |
Weighted-average shares of common stock outstanding - basic | 19,800,322 |  |  | 40,612,907 |  |  | 19,715,585 |  |  | 40,586,279 |
Effect of potentially dilutive stock options | — |  |  | — |  |  | — |  |  | 433,710 |
Effect of potentially dilutive employee stock purchase plan shares | — |  |  | — |  |  | — |  |  | — |
Effect of potentially dilutive restricted stock units | — |  |  | — |  |  | — |  |  | 133,769 |
Total potentially dilutive securities | — |  |  | — |  |  | — |  |  | 567,479 |
Weighted-average shares of common stock outstanding used to compute diluted net loss1 | 19,800,322 |  |  | 40,612,907 |  |  | 19,715,585 |  |  | 41,153,758 |
Net income (loss) per share of common stock |  |  |  |  |  |  |
Basic | $ | (1.45) |  |  | $ | (0.76) |  |  | $ | (2.66) |  |  | $ | 2.90 |
Diluted | $ | (1.45) |  |  | $ | (0.76) |  |  | $ | (2.66) |  |  | $ | 2.86 |
The Company excluded the following from the computation of diluted net income (loss) per share attributable to common stockholders as of June 30, 2026 and 2025 because including them would have had an anti-dilutive effect: In periods where there is a net loss, zero incremental shares are included as the effect would be antidilutive.
| THREE MONTHS ENDED JUNE 30, |  | SIX MONTHS ENDED JUNE 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
Restricted stock unit awards | 277,474 |  |  | 12,462 |  |  | 164,024 |  |  | 6,265 |
Options to purchase common stock | 4,139,826 |  |  | 4,838,595 |  |  | 3,906,745 |  |  | 4,865,192 |
Employee stock purchase plan shares | 7,176 |  |  | 29,517 |  |  | 5,957 |  |  | 35,628 |
Total | 4,424,476 |  |  | 4,880,574 |  |  | 4,076,726 |  |  | 4,907,085 |

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