Basic net (loss) income per share is calculated by dividing net (loss) income by the weighted average shares outstanding during the period, without consideration of common stock equivalents. Diluted net (loss) income per share is calculated by adjusting the weighted average shares outstanding for the dilutive effect of common stock equivalents outstanding for the period, determined using the treasury-stock method.

The components of basic and diluted net (loss) income per share are as follows:


	Three Months Ended June 30,					Six Months Ended June 30,
(In thousands, except per share data)	2026			2025		2026			2025
Numerator:
Net (loss) income	$	(48,178	)	$	38,575	$	(21,434	)	$	70,914
Denominator:
Weighted average shares - basic		151,945			159,478		151,896			159,511
Common stock equivalents(1)		—			2,065		—			2,293
Weighted average shares - diluted		151,945			161,543		151,896			161,804
Net (loss) income per share - basic	$	(0.32	)	$	0.24	$	(0.14	)	$	0.44
Net (loss) income per share - diluted	$	(0.32	)	$	0.24	$	(0.14	)	$	0.44
Antidilutive shares excluded from diluted net (loss) income per share:
Restricted stock units		2,833			20		3,060			6
Non-qualified stock options		474			—		35			—
Performance share units		727			325		727			325
Common stock equivalents(1)		1,210			—		1,526			—
Total antidilutive shares excluded		5,244			345		5,348			331

(1) Due to the Company's overall loss position, common stock equivalents are antidilutive for both the three and six months ended June 30, 2026.