v3.26.1
Net Income per Share Attributable to Common Stockholders
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Net Income per Share Attributable to Common Stockholders Net Income per Share Attributable to Common Stockholders
The following table presents the calculation of basic and diluted net income per share:
Three Months EndedSix Months Ended
June 30,June 30,
(In thousands, except per share amounts)2026202520262025
Basic net income per share:
Numerator:
Net income attributable to common stockholders$35,437 $37,027 $51,208 $75,231 
Denominator:
Weighted-average shares used to compute net income per share attributable to common stockholders104,611 91,097 98,856 91,538 
Basic$0.34 $0.41 $0.52 $0.82 
Diluted net income per share:
Numerator:
Net income attributable to common stockholders
$35,437 $37,027 $51,208 $75,231 
Interest expense on dilutive convertible notes, net of tax1,390 1,733 1,821 3,195 
Net income used in diluted calculation$36,827 $38,760 $53,029 $78,426 
Denominator:
Number of shares used in basic calculation 104,611 91,097 98,856 91,538 
Weighted-average effect of dilutive securities:
Stock Options
671 689 711 812 
RSUs
3,280 392 2,911 711 
PRSUs
109 36 115 57 
MRSUs170 — 158 — 
2026 Convertible Notes
1,750 8,403 — 8,403 
2030 Convertible Notes15,957 — 15,957 — 
Number of shares used in diluted calculation
126,548 100,617 118,708 101,521 
Diluted net income per share attributable to common stockholders
$0.29 $0.39 $0.45 $0.77 
We calculate the potential dilutive effect of the convertible senior notes under the if-converted method. Under this method, diluted earnings per share are determined by assuming that outstanding convertible senior notes were converted into shares of our common stock at the beginning of the reporting period.
In connection with the issuance of the convertible senior notes, we entered into the capped call transactions, which were not included for purpose of calculating number of diluted shares outstanding, as their effect would have been anti-dilutive. The capped call transactions are expected to partially offset the potential dilution to our common stock upon any conversion of the convertible senior notes.
Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:
Three Months EndedSix Months Ended
June 30,June 30,
(In thousands)2026202520262025
RSUs16 3,957 8 2,982 
2026 Convertible Notes
— — 1,750 — 
Total16 3,957 1,758 2,982