The following table summarizes the computation of basic and diluted net income per share of our common stock for the three months ended March 31, 2026 and 2025 (in thousands, except share and per share data):


	Three Months Ended March 31,
	2026		2025
Numerator:
Net income (loss) attributable to common stockholders, basic and diluted	$	1,130	$	2,105

Denominator:
Weighted average common shares outstanding, basic	66,174,341		63,835,945
Weighted average effect of dilutive shares:
Dilutive effect of equity incentive plans	730,651		388,471

Weighted average common shares outstanding, diluted	66,904,992		64,224,415

Net income (loss) per share attributable to common stockholders, basic	$	0.02	$	0.03
Net income (loss) per share attributable to common stockholders, diluted	$	0.02	$	0.03

We intend to settle any conversion of our 2027 Notes and 2029 Notes in cash, shares, or a combination thereof. The dilutive impact of the Notes for our calculation of diluted net income per share is considered using the if-converted method. For the three months ended March 31, 2026 and 2025, the shares underlying the Notes were not considered in the calculation of diluted net income per share as the effect would have been anti-dilutive.

In connection with the issuance of the 2027 Notes and the 2029 Notes, we entered into the 2027 Capped Calls and 2029 Capped Calls, which were not included for the purpose of calculating the number of diluted shares outstanding, as their effect would have been anti-dilutive.

As of March 31, 2026, the 2027 Notes and the 2029 Notes were not convertible at the option of the holder. As of March 31, 2025, the 2025 Notes were convertible at the option of the holder, however, the 2027 Notes and the 2029 Notes were not convertible at the option of the holder. We had not received any conversion notices through the issuance date of our consolidated financial statements. For disclosure purposes, we have calculated the potentially dilutive effect of the conversion spread, which is included in the table below. The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted average shares outstanding for the respective periods below because they would have been anti-dilutive:


	Three Months Ended March 31,
	2026	2025


Common shares issued in conjunction with acquisitions	2,474,514	309,561
Shares to be issued under ESPP	78,198	18,620
Convertible senior notes	10,429,891	11,183,611
Total	12,982,603	11,511,792