| INCOME (LOSS) PER SHARE |
INCOME (LOSS) PER SHARE Basic and diluted income (loss) per share of common stock are calculated as follows (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 | $ | (23,708) | | | $ | 148,451 | | | Denominator: | | | | | Weighted-average shares of common stock outstanding - basic | 19,629,906 | | | 40,559,355 | | | Effect of potentially dilutive stock options | — | | | 460,730 | | | Effect of potentially dilutive employee stock purchase plan shares | — | | | 914 | | | Effect of potentially dilutive restricted stock units | — | | | 326 | | | Total potentially dilutive securities | — | | | 461,970 | | | Weighted-average shares of common stock outstanding used to compute diluted net loss | 19,629,906 | | | 41,021,325 | | | Net income (loss) per share of common stock | | | | | Basic | $ | (1.21) | | | $ | 3.66 | | | Diluted | $ | (1.21) | | | $ | 3.62 | | | | | |
The Company excluded the following from the computation of diluted net income (loss) per share attributable to common stockholders as of March 31, 2026 and 2025 because including them would have had an anti-dilutive effect: | | | | | | | | | | | | | MARCH 31, 2026 | | MARCH 31, 2025 | | Restricted stock unit awards | 22,784 | | | 882,775 | | | Options to purchase common stock | 3,667,575 | | | 4,869,232 | | | Employee stock purchase plan shares | 5,443 | | | 42,086 | | | Total | 3,695,802 | | | 5,794,093 | |
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