Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2025

12. Net Income (Loss) Per Share

Basic net loss per share is calculated by dividing the net loss by the weighted-average number of shares of common stock outstanding for the period, without consideration for potential dilutive common shares. Diluted net loss per share is computed by dividing net loss by the weighted-average number of common shares outstanding for the period, without consideration for any potential dilutive common share equivalents as their effect would be antidilutive.

The following table sets forth the computation of the basic and diluted net income (loss) per share:


	Three Months Ended
	March 31,
(in thousands, except share and per share data)	2025		2024
Net loss from continuing operations	$	(47,398)	$	(68,036)
Weighted-average common shares outstanding, basic and diluted		115,857,780		112,749,306
Net loss from continuing operations, basic and diluted	$	(0.41)	$	(0.60)

Net income (loss) from discontinued operations, net of tax	$	(9,171)	$	170,911
Weighted-average common shares outstanding, basic and diluted		115,857,780		112,749,306
Net income (loss) from discontinued operations, basic and diluted	$	(0.08)	$	1.52

Net income (loss)	$	(56,569)	$	102,875
Weighted-average common shares outstanding, basic and diluted		115,857,780		112,749,306
Net income (loss) per share - basic and diluted	$	(0.49)	$	0.91

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,
	2025	2024
Stock options, performance stock options and shares subject to ESPP	31,070,766	27,498,348
Restricted stock units	364,521	1,085,245
Shares issuable upon conversion of 2026 Convertible Notes	11,942,152	11,942,152
Total	43,377,439	40,525,745

The amounts in the table above exclude any shares contingently issuable pursuant to the CVR Agreement because the conditions that could result in a payment becoming due were not met.