v3.26.1
NET (LOSS) INCOME PER SHARE (Tables)
3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Schedule of Reconciliations of the Numerators and Denominators Used to Compute Basic and Diluted Earnings (Loss) Per Share The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted (loss)
income per share (in thousands, except per share amounts):
Three Months Ended March 31,
2026
2025
Numerator:
Net (loss) income
$(347,188)
$576,251
Add: Change in fair value of Tranche 2 Warrants
4,750
(127,372)
Basic and diluted net (loss) income
$(342,438)
$448,879
Denominator:
Weighted average shares outstanding - basic
322,911
315,186
Effect of dilutive securities:
Tranche 1 Warrants
39,232
RSUs, PSUs, and MSUs
8,896
Weighted average shares outstanding - diluted
322,911
363,314
Net (loss) income per share - basic
$(1.06)
$1.42
Net (loss) income per share - diluted
$(1.06)
$1.24
Schedule of Antidilutive Securities Excluded from Computation of Earnings (Loss) Per Share Potentially dilutive securities include securities excluded from the calculation of diluted EPS because to do so would be anti-
dilutive. Shares which may be issued from potentially dilutive securities are as follows (in thousands):
Three Months Ended March 31,
 
2026
2025
Convertible Notes
69,611
69,611
RSUs, PSUs, and MSUs
15,334
1,249
Stock options
344
321
Tranche 1 Warrants
96,654
Total shares issuable from potentially dilutive securities
181,943
71,181