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Net Income (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2024

Net Income (Loss) Per Share

Computation of Basic and Diluted Net Income Per Share

​

​	​	​	​	​	​	​
​	​	Three Months Ended
​	​	​	March 31,
(in thousands, except share and per share data)		2024			2023
Basic net income (loss) per share	​	​			​
Numerator:	​	​			​
Net income (loss)	​	$	102,875	​	$	(75,729)
Denominator:	​		​	​		​
Weighted-average common shares outstanding	​		112,749,306	​		79,268,853
Basic net income (loss) per share	​	$	0.91	​	$	(0.96)
​	​	​	​	​	​	​
Diluted net income (loss) per share	​			​
Numerator:	​			​
Net income (loss)	​	$	102,875	​	$	(75,729)
Add interest expense on convertible notes, net of tax	​	​	1,195	​	​	—
Numerator for diluted net income (loss) per share	​	$	104,070	​	$	(75,729)
Denominator:	​		​	​		​
Denominator for basic net income (loss) per share	​		112,749,306	​		79,268,853
Add effect of potential dilutive securities:	​		​	​		​
Stock options, including shares subject to ESPP	​		406,217	​		—
Restricted stock units	​		432,296	​		—
Shares issuable upon conversion of convertible notes	​	​	11,942,152	​	​	—
Denominator for diluted net income (loss) income per share	​		125,529,971	​		79,268,853
Diluted net income (loss) per share	​	$	0.83	​	$	(0.96)

Schedule of Outstanding Dilutive Potential Shares Excluded from Calculation of Diluted Net Income (loss) Per Share

The following outstanding dilutive potential shares were excluded from the calculation of diluted net income (loss) per share due to their anti-dilutive effect:

​	​	​	​	​
​	​	Three Months Ended
​	​	March 31,
​		2024		2023
Stock options, including shares subject to ESPP	​	26,109,011		23,996,096
Restricted stock units	​	1,066,705		2,586,168
Shares issuable upon conversion of 2026 Convertible Notes	​	—	​	11,942,152
Total	​	27,175,716		38,524,416

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- Definition

Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

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- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
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