Basic net income (loss) per common share is computed by dividing the net income (loss) by the weighted-average number of common shares outstanding during the period, without consideration of common stock equivalents. Diluted net income (loss) per common share is computed by dividing the net income (loss) by the sum of the weighted-average number of common shares outstanding during the period plus any potential dilutive effects of common stock equivalents outstanding during the period calculated in accordance with the treasury stock method. For periods that the Company was in a net loss position, basic net loss per share is the same as diluted net loss per share as the inclusion of all potential common securities outstanding would have been anti-dilutive.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Net income (loss)	$	80,080	$	(110,958)	$	(45,615)	$	(231,923)

Weighted-average shares outstanding, basic	167,719,015		138,447,469		157,613,578		137,960,888
Weighted-average effect of dilutive securities:
Options to purchase common stock	180,888		—		—		—
Restricted shares subject to future vesting	912,543		—		—		—
Shares to purchase under Employee Stock Purchase Plan	66,681		—		—		—
Weighted-average shares outstanding, diluted	168,879,127		138,447,469		157,613,578		137,960,888

Net income (loss) per share, basic	$	0.48	$	(0.80)	$	(0.29)	$	(1.68)
Net income (loss) per share, diluted	$	0.47	$	(0.80)	$	(0.29)	$	(1.68)

Securities that could potentially dilute basic net income (loss) per common share in the future that were not included in the computation of diluted net income (loss) per common share because to do so would have been antidilutive for the periods presented were primarily as follows:


	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Options issued and outstanding	9,941,060	10,017,308	10,336,678	10,017,308
Restricted shares subject to future vesting	432,275	6,281,058	7,058,395	6,281,058
Total	10,373,335	16,298,366	17,395,073	16,298,366