Basic earnings per share, or EPS, is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding for the period, without consideration for common stock equivalents. Diluted EPS is computed by dividing net income (loss) by the weighted-average number of common shares outstanding for the period and the weighted-average number of dilutive common stock equivalents outstanding for the period determined using the treasury-stock method. For purposes of this calculation, stock options and restricted stock units are considered to be common stock equivalents and are only included in the calculation of diluted EPS when their effect is dilutive. In periods in which the Company has a net loss, dilutive common stock equivalents are excluded from the calculation of diluted EPS.

The table below presents the computation of basic and diluted EPS:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands, except per share amounts)
Numerator:
Net income (loss)	$	1,760	$	(26,586)	$	(43,377)	$	(76,299)
Denominator:
Weighted average common shares outstanding—basic	90,043		86,626		88,826		85,952
Dilutive common stock equivalents	7,290		—		—		—
Weighted average common shares outstanding—diluted	97,333		86,626		88,826		85,952
Net income (loss) per share:
Basic	$	0.02	$	(0.31)	$	(0.49)	$	(0.89)
Diluted	$	0.02	$	(0.31)	$	(0.49)	$	(0.89)

For the three months ended June 30, 2026 and 2025, the Company excluded common stock equivalents for outstanding stock-based awards, which represented potentially dilutive securities of 144 thousand and 7.8 million, respectively, from the calculation of diluted net income (loss) per share due to their anti-dilutive nature.