The computations of basic and diluted net income (loss) per share were as follows (in thousands, except per share data):


	Three Months Ended June 30,					Six Months Ended June 30,
	2026		2025			2026			2025
Basic net income (loss) per share:
Net income (loss)	$	22,709	$	(70,871	)	$	(67,342	)	$	(64,788	)
Shares used in computation:
Weighted-average common shares outstanding		52,820		51,483			52,625			51,423
Basic net income (loss) per share	$	0.43	$	(1.38	)	$	(1.28	)	$	(1.26	)

Diluted net income (loss) per share:
Net income (loss)	$	22,709	$	(70,871	)	$	(67,342	)	$	(64,788	)
Shares used in computation:
Weighted-average common shares outstanding		52,820		51,483			52,625			51,423
RSUs		196		—			—			—
Weighted-average diluted common shares		53,016		51,483			52,625			51,423
Diluted net income (loss) per share	$	0.43	$	(1.38	)	$	(1.28	)	$	(1.26	)

For periods in which the Company incurred net losses, common stock equivalents were excluded from the calculation of diluted net loss per share as their effect would be anti-dilutive. Accordingly, basic and diluted net loss per share were the same for such periods. The weighted-average number of common shares outstanding used in the basic and diluted net income (loss) per share calculations includes the weighted-average effect of pre-funded warrants to purchase shares of the Company's common stock, as the

pre-funded warrants are exercisable at any time for nominal cash consideration. The following potentially dilutive common stock equivalents outstanding at the end of the period were excluded from the computations of weighted-average diluted common shares for the periods indicated as their effects would be anti-dilutive (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Stock options outstanding		11,829		11,810		11,829		11,810
Unvested RSUs		1,679		2,982		2,995		2,982
Unvested PSUs		184		—		184		—
Employee stock purchase plan		88		111		88		111
May 2025 Warrants outstanding		268		268		268		268
		14,048		15,171		15,364		15,171

In addition to the common stock equivalents in the table above, the computations of weighted-average diluted common shares for the three and six months ended June 30, 2026 exclude 122,565 unvested PSUs as of June 30, 2026 for which vesting is contingent upon the future achievement of performance conditions.