Basic earnings per share (“EPS”) measures the performance of an entity over the reporting period. Diluted earnings per share measures the performance of an entity over the reporting period while giving effect to all potentially dilutive shares of Common Stock that were outstanding during the period. The Company uses the treasury stock method to determine the potential dilutive effect of vesting of its outstanding RSUs and PSUs. The Company uses the if-converted method to determine the potential dilutive effect of convertible notes. The Capped Call Transactions are antidilutive and are excluded from diluted EPS. The Company does not use the two-class method.

The following table reflects the allocation of net income (loss) to common stockholders and EPS computations for the period indicated based on a weighted average number of shares of Common Stock outstanding for the three and six months ended June 30, 2026 and 2025 (in thousands, except per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Numerator:
Net loss	$	(25,096	)	$	(5,558	)	$	(72,360	)	$	(4,339	)
Denominator:
Basic weighted average shares outstanding		124,938			123,655			124,782			120,965
Diluted weighted average shares outstanding		124,938			123,655			124,782			120,965

Basic EPS attributable to holders of Common Stock	$	(0.20	)	$	(0.04	)	$	(0.58	)	$	(0.04	)
Diluted EPS attributable to holders of Common Stock	$	(0.20	)	$	(0.04	)	$	(0.58	)	$	(0.04	)

We had a net loss for the three and six months ended June 30, 2026 and 2025. Accordingly, our diluted loss per share calculation was equivalent to our basic loss per share calculation since diluted loss per share excluded any assumed exercise of equity awards or convertible notes. These were excluded because they were deemed to be anti-dilutive, meaning their inclusion would have reduced the reported net loss per share in the applicable period.

The following potentially dilutive average shares attributable to outstanding equity awards and convertible notes were excluded from the calculation of diluted earnings per share because their inclusion would have been anti-dilutive:


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2026		2025		2026		2025
RSUs excluded		2,661		246		2,349	314
PSUs excluded		2,185		669		2,185	896
Convertible notes excluded		28,291		—		14,223		—