Three Months Ended

Nine Months Ended

September 30,

(in thousands, except share and per share data)

2024

2023

2024

2023

Basic net income (loss) per share

Numerator:

Net income (loss)

$

(10,751)

$

(39,641)

$

79,203

$

(158,239)

Denominator:

Weighted-average common shares outstanding

115,210,091

97,738,509

114,263,256

88,277,936

Basic net income (loss) per share

$

(0.09)

$

(0.41)

$

0.69

$

(1.79)

Diluted net income (loss) per share

Numerator:

Net income (loss)

$

(10,751)

$

(39,641)

$

79,203

$

(158,239)

Add interest expense on convertible notes, net of tax

—

3,591

—

Numerator for diluted net income (loss) per share

$

(10,751)

$

(39,641)

$

82,794

$

(158,239)

Denominator:

Denominator for basic net income (loss) per share

115,210,091

97,738,509

114,263,256

88,277,936

Add effect of potential dilutive securities:

Stock options, including shares subject to ESPP

—

213,872

—

Restricted stock units

—

144,271

—

Shares issuable upon conversion of convertible notes

—

11,942,152

—

Denominator for diluted net income (loss) income per share

115,210,091

97,738,509

126,563,551

88,277,936

Diluted net income (loss) per share

$

(0.09)

$

(0.41)

$

0.65

$

(1.79)