| Net Income (Loss) Per Share |
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 | | Six Months Ended | | | June 30, | | | June 30, | (in thousands, except share and per share data) | | 2025 | | 2024 | | 2025 | | 2024 | Net loss from continuing operations | | $ | (44,862) | | $ | (54,851) | | $ | (92,260) | | $ | (122,887) | Weighted-average common shares outstanding, basic and diluted | | | 116,077,710 | | | 114,819,965 | | | 115,968,352 | | | 113,784,636 | Net loss from continuing operations, basic and diluted | | $ | (0.39) | | $ | (0.48) | | $ | (0.80) | | $ | (1.08) | | | | | | | | | | | | | | Net income from discontinued operations, net of tax | | $ | 342,629 | | $ | 41,930 | | $ | 333,458 | | $ | 212,841 | Weighted-average common shares outstanding, basic and diluted | | | 116,077,710 | | | 114,819,965 | | | 115,968,352 | | | 113,784,636 | Net income from discontinued operations, basic and diluted | | $ | 2.95 | | $ | 0.37 | | $ | 2.88 | | $ | 1.87 | | | | | | | | | | | | | | Net income (loss) | | $ | 297,767 | | $ | (12,921) | | $ | 241,198 | | $ | 89,954 | Weighted-average common shares outstanding, basic and diluted | | | 116,077,710 | | | 114,819,965 | | | 115,968,352 | | | 113,784,636 | Net income (loss) per share, basic and diluted | | $ | 2.57 | | $ | (0.11) | | $ | 2.08 | | $ | 0.79 |
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 | | Six Months Ended | | | June 30, | | June 30, | | | 2025 | | 2024 | | 2025 | | 2024 | Stock options, performance stock options and shares subject to ESPP | | 29,704,100 | | 28,352,532 | | 30,386,951 | | 27,925,350 | Restricted stock units | | 236,960 | | 894,106 | | 300,388 | | 989,676 | Shares issuable upon conversion of 2026 Convertible Notes | | 6,283 | | 11,942,152 | | 6,283 | | 11,942,152 | Total | | 29,947,343 | | 41,188,790 | | 30,693,622 | | 40,857,178 |
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.
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