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Net Income (Loss) Per Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | Net Income (Loss) Per Share Basic income (loss) per common share is determined by dividing income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period, without consideration of common stock equivalents. Diluted income (loss) per share is computed by dividing the income (loss) attributable to common stockholders by the weighted-average number of common stock equivalents outstanding for the period. The treasury stock method is used to determine the dilutive effect of the Company's stock option grants and RSUs. 14,235,295 stock options and RSUs (common stock equivalents) were excluded from the calculation of diluted income per share for the three months ended September 30, 2024, because their inclusion would have been anti-dilutive. 12,607,056 and 12,514,638 stock options and RSUs (common stock equivalents) were excluded from the calculation of diluted income per share for the three and nine months ended September 30, 2023, respectively, because their inclusion would have been anti-dilutive. Basic and diluted income (loss) per common share is computed as follows (in thousands except share and per share data):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Numerator: |  |  |  |  |  |  |
Net income (loss) used for calculation of basic and diluted EPS | $ | 56,309 |  |  | $ | 17,554 |  |  | $ | (51,545) |  |  | $ | 37,014 |
Denominator: |  |  |  |  |  |  |
Weighted average shares outstanding, basic | 62,744,005 |  |  | 61,980,680 |  |  | 62,566,723 |  |  | 61,890,824 |
Effect of dilutive securities: |  |  |  |  |  |  |
Stock options and restricted stock units | 121,836 |  |  | 263,922 |  |  | — |  |  | 199,519 |
Weighted average shares outstanding, diluted | 62,865,841 |  |  | 62,244,602 |  |  | 62,566,723 |  |  | 62,090,343 |
Net income (loss) per share, basic | $ | 0.90 |  |  | $ | 0.28 |  |  | $ | (0.82) |  |  | $ | 0.60 |
Net income (loss) per share, diluted | $ | 0.90 |  |  | $ | 0.28 |  |  | $ | (0.82) |  |  | $ | 0.60 |

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