| Schedule of Basic and Diluted Net Income (Loss) Per Share |
The following is a calculation of the basic and diluted net income (loss) per share (in thousands, except share and per share data): | | | | | | | | | | | | | | | | | | | | | | | | | 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) | |
|
| Schedule of Potentially Dilutive Securities Not Included in the Diluted Per Share Calculations |
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 |
|