INCOME (LOSS) PER SHARE (Tables)

The following table sets forth the computation of basic and diluted net income (loss) per share of Common Stock for the three and six months ended June 30, 2026 and 2025 (in thousands, except share amounts and per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Basic and diluted net income (loss) per share:

Numerator
Income (loss) - continuing operations	$	(1,456)	$	20,593	$	(14,045)	$	28,620
Less: Net income (loss) attributable to noncontrolling interests	291		256		531		637
Net income (loss) attributable to common stockholders - continuing operations	(1,747)		20,337		(14,576)		27,983
Net income (loss) attributable to common stockholders - discontinued operations	(16)		—		(46)		(471)
Basic net income (loss) attributable to common stockholders	$	(1,763)	$	20,337	$	(14,622)	$	27,512

Diluted net income (loss) attributable to common stockholders - continuing operations	$	(1,747)	$	20,337	$	(14,576)	$	27,983
Plus: Interest expense from assumed conversion of convertible senior notes	—		2,779		—		367
Net income (loss) attributable to common stockholders plus assumed conversions - continuing operations	$	(1,747)	$	23,116	$	(14,576)	$	28,350

Denominator
Shares used in computation of basic net income (loss) per share	38,961,948		40,034,041		39,742,972		39,922,318
Weighted-average effect of diluted securities:
Stock options	—		2,094,112		—		1,844,547
RSUs	—		417,920		—		366,045
PSUs	—		863,728		—		431,864
ESPP Shares	—		6,353		—		3,752
Convertible senior notes due 2026	—		788,903		—		788,903
Convertible senior notes due 2027	—		6,575,268		—		—

Shares used in computation of diluted net income (loss) per share	38,961,948		50,780,325		39,742,972		43,357,429

Basic net income (loss) per share:
Continuing operations	$	(0.04)	$	0.51	$	(0.37)	$	0.70
Discontinued operations	—		—		—		(0.01)
Basic net income (loss) per share	$	(0.04)	$	0.51	$	(0.37)	$	0.69

Diluted net income (loss) per share:
Continuing operations	$	(0.04)	$	0.46	$	(0.37)	$	0.65
Discontinued operations	—		—		—		(0.01)
Diluted net income (loss) per share	$	(0.04)	$	0.46	$	(0.37)	$	0.64

The following weighted-average potentially dilutive instruments are not included in the diluted net income (loss) per share calculations above because they would have had an antidilutive effect on the net income (loss) per share from continuing operations:


	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Capped call transactions (1)	—	788,903	203,625	788,903
Convertible Senior notes due 2026 (2)	—	—	203,625	—
Convertible Senior notes due 2027 (2)	1,575,318	—	1,575,318	6,575,268
Convertible Senior notes due 2030 (2)	4,516,070	—	4,516,070	—
Stock options	2,423,077	—	2,742,788	—
RSUs	890,174	5,072	728,872	6,908
PSUs	1,148,392	—	1,424,538	—
ESPP	6,265	—	9,211	—
Total	10,559,296	793,975	11,404,047	7,371,079

(1)The capped call transactions were intended to reduce potential dilution to our Common Stock in the event the 2026 Notes were converted into shares. If the 2026 Notes had converted on or prior to maturity on March 15, 2026, the exercise of the capped call transactions would have substantially offset the economic dilution that would have otherwise resulted from the issuance of shares upon conversion. The capped call transactions expired in connection with the maturity of the 2026 Notes.

(2)We apply the if-converted method in computing the effect of our convertible senior notes on diluted net income (loss) per share, whereby the numerator of our diluted net income (loss) per share computations is adjusted for interest expense, net of tax, and the denominator is adjusted for the number of shares into which the convertible senior notes could be converted. The effect is only included in the calculation of income (loss) per share for those instruments for which it would reduce income (loss) per share. See Note 6, Financing Arrangements, for additional information.