Earnings (Loss) per Share

3 Months Ended

Mar. 31, 2025

Basic and diluted net loss per share were calculated as follows (in thousands, except per share data):


	Three Months Ended March 31,
	2025		2024
Numerator:
Net income (loss), basic	$	518,646	$	(147,550)
Interest on convertible notes	2,634		—
Net income (loss), dilutive	521,280		(147,550)
Denominator:
Weighted average number of common shares outstanding, basic	161,049		139,916
Effect of dilutive securities	16,576		—
Weighted average number of common shares outstanding, dilutive	177,625		139,916
Net income (loss) per share:
Basic	$	3.22	$	(1.05)
Diluted	$	2.93	$	(1.05)

Anti-dilutive securities excluded from calculations of diluted net income (loss) per share	5,349		24,269