The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except per share data):


	Three Months Ended				Six Months Ended
	June 30, 2026		June 30, 2025		June 30, 2026		June 30, 2025
Numerator:
Net income (loss)	$	164,216	$	10,503	$	249,916	$	(16,928)
Denominator:
Basic net income (loss) per share:
Weighted-average common shares outstanding — basic	147,972		146,888		147,742		146,545
Dilutive effect of common stock equivalents	3,923		2,787		3,719		—
Weighted-average common shares outstanding — diluted	151,895		149,675		151,461		146,545

Net income (loss) per share — basic	$	1.11	$	0.07	$	1.69	$	(0.12)
Net income (loss) per share — diluted	$	1.08	$	0.07	$	1.65	$	(0.12)