| Schedule of computation of basic and diluted net income (loss) per share |
The following table shows the computation of basic and diluted net income (loss) per share for the three and six months ended June 30, 2026 and 2025:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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(In thousands except per share data) |
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2026 |
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2025 |
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2026 |
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2025 |
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Numerator: |
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Net income (loss), basic |
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$ |
(83,420 |
) |
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$ |
63,688 |
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|
$ |
103,175 |
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|
$ |
17,104 |
|
Add: interest expense on 2025 Notes, net of tax effect |
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— |
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|
697 |
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|
|
— |
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|
|
1,396 |
|
Add: interest expense on 2028 Notes, net of tax effect |
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— |
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|
|
873 |
|
|
|
2,850 |
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|
|
1,748 |
|
Net income (loss), diluted |
|
$ |
(83,420 |
) |
|
$ |
65,258 |
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|
$ |
106,025 |
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$ |
20,248 |
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Denominator: |
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Weighted-average shares used to compute basic
net income (loss) per share |
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73,421 |
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|
62,865 |
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|
|
73,789 |
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|
|
62,787 |
|
Dilutive effect of 2025 Notes |
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— |
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|
11,149 |
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— |
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|
11,150 |
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Dilutive effect of 2028 Notes |
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— |
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|
|
9,955 |
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|
9,955 |
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|
|
9,955 |
|
Dilutive effect of options and awards granted under equity
incentive plan and employee stock purchase plan |
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|
— |
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|
|
449 |
|
|
|
785 |
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|
|
435 |
|
Dilutive effect of outstanding warrant |
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— |
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|
34 |
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|
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— |
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|
15 |
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Weighted-average shares used to compute diluted
net income (loss) per share |
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|
73,421 |
|
|
|
84,452 |
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|
|
84,529 |
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|
|
84,342 |
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Net income (loss) per share |
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Basic |
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$ |
(1.14 |
) |
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$ |
1.01 |
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$ |
1.40 |
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$ |
0.27 |
|
Diluted |
|
$ |
(1.14 |
) |
|
$ |
0.77 |
|
|
$ |
1.25 |
|
|
$ |
0.24 |
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| Schedule of anti-dilutive securities |
The following common stock equivalents were not included in the computation of diluted net income (loss) per share because their effect was anti-dilutive for the periods presented:
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Three Months Ended June 30, |
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Six Months Ended June 30, |
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(In thousands) |
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2026 |
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2025 |
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|
2026 |
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|
2025 |
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Outstanding options and awards granted under equity incentive
plan and employee stock purchase plan |
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|
1,958 |
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|
1,630 |
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|
1,388 |
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|
1,389 |
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Outstanding 2028 Notes |
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|
9,955 |
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— |
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— |
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— |
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Total |
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|
11,913 |
|
|
|
1,630 |
|
|
|
1,388 |
|
|
|
1,389 |
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