For the periods presented, the following table provides a reconciliation of the numerator and denominator used in computing basic and diluted net earnings (loss) per share (in thousands, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025			2026			2025
Numerator:
Net income (loss)	$	12,220	$	11,553		$	(13,041	)	$	3,102
Denominator:
Weighted average common shares outstanding, basic		30,480		29,008			30,386			28,824
Dilutive effect of:
Stock plans		525		647			—			726
Convertible notes		—		—			—			—
Weighted average common shares outstanding, diluted		31,005		29,655			30,386			29,550

Net income (loss) per share — basic	$	0.40	$	0.40		$	(0.43	)	$	0.11
Net income (loss) per share — diluted	$	0.39	$	0.39		$	(0.43	)	$	0.10

Basic net earnings (loss) per share is calculated using our net earnings (loss) and our weighted average outstanding common shares.

Diluted net earnings (loss) per share is calculated using our net earnings (loss) attributable to common stockholders with interest charges applicable to our convertible debt added back under the if converted method, if dilutive, and our weighted average outstanding common shares including the dilutive effect of stock awards and employee stock purchase plan shares as determined under the treasury stock method and of our convertible notes using the if converted method, if dilutive. In periods when we recognize a net loss, we exclude the impact of outstanding stock awards and the potential share settlement impact related to our convertible notes from the diluted loss per share calculation as their inclusion would have an antidilutive effect.

The following table presents the outstanding shares of our common stock equivalents excluded from the computation of diluted net earnings (loss) per share as of the dates presented because their effect would have been antidilutive (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Stock options		—		—		398		—
RSUs, MSUs and PSUs		208		470		1,208		904
Employee stock purchase plan shares		15		16		15		16
2021 Notes		516		2,589		516		2,589
2025 Notes		711		—		711		—