| Net Income (Loss) Per Share |
Note 6—Net Income (Loss) Per Share The following table presents the calculation of basic and diluted net income (loss) per share for the periods presented (in thousands, except per share amounts): | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Numerator: | | | | | | | | | Net income from continuing operations—basic | $ | 114,339 | | | $ | 45,638 | | | $ | 219,001 | | | $ | 10,551 | | | Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes | 3,333 | | | 1,873 | | | 6,666 | | | — | | | Net income from continuing operations—diluted | $ | 117,672 | | | $ | 47,511 | | | $ | 225,667 | | | $ | 10,551 | | | | | | | | | | | Net loss from discontinued operations—basic and diluted | $ | (160,989) | | | $ | (16,798) | | | $ | (195,971) | | | $ | (33,807) | | | | | | | | | | | Total net (loss) income—basic | $ | (46,650) | | | $ | 28,840 | | | $ | 23,030 | | | $ | (23,256) | | | Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes | 3,333 | | | 1,873 | | | 6,666 | | | — | | | Total net (loss) income—diluted | $ | (43,317) | | | $ | 30,713 | | | $ | 29,696 | | | $ | (23,256) | | | | | | | | | | | Denominator: | | | | | | | | | Weighted-average common shares outstanding—basic | 94,358 | | | 103,212 | | | 95,618 | | | 105,246 | | | Dilutive effect of outstanding stock-based compensation awards | 2,730 | | | 2,243 | | | 2,417 | | | 2,147 | | | Dilutive effect of assumed conversion of convertible senior notes | 22,873 | | | 16,059 | | | 22,873 | | | — | | | | | | | | | | | Weighted-average common shares outstanding—diluted | 119,961 | | | 121,514 | | | 120,908 | | | 107,393 | | | | | | | | | | | Basic net income (loss) per share attributable to common stockholders: | | | | | | | | | Continuing operations | $ | 1.21 | | | $ | 0.44 | | | $ | 2.29 | | | $ | 0.10 | | | Discontinued operations | (1.70) | | | (0.16) | | | (2.05) | | | (0.32) | | | Total basic net (loss) income per share attributable to common stockholders | $ | (0.49) | | | $ | 0.28 | | | $ | 0.24 | | | $ | (0.22) | | | | | | | | | | | Diluted net income (loss) per share attributable to common stockholders: | | | | | | | | | Continuing operations | $ | 0.98 | | | $ | 0.39 | | | $ | 1.87 | | | $ | 0.10 | | | Discontinued operations | (1.34) | | | (0.14) | | | (1.62) | | | (0.32) | | | Total diluted net (loss) income per share attributable to common stockholders | $ | (0.36) | | | $ | 0.25 | | | $ | 0.25 | | | $ | (0.22) | |
The following potentially issuable common shares were excluded from the calculation of diluted weighted-average common shares outstanding because their effect would have been anti-dilutive for the periods presented (in thousands): | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Stock-based compensation awards | 1,201 | | | 5,391 | | | 2,486 | | | 5,404 | | | Convertible senior notes | — | | | — | | | — | | | 22,873 | | | Total anti-dilutive securities | 1,201 | | | 5,391 | | | 2,486 | | | 28,277 | |
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