Net Income (Loss) Per Ordinary Share (Tables)

6 Months Ended

Jun. 30, 2026

Calculation of Basic and Diluted Net Income (Loss) Per Ordinary Share

Net income (loss) per ordinary share was determined as follows (in thousands, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator:
Net income (loss)	$	(18,583)	$	(125,767)	$	14,138	$	(185,962)
Denominator:
Weighted-average ordinary shares outstanding used in per share calculations - basic	52,145		53,827		52,922		53,827
Dilutive restricted stock units outstanding	—		—		475		—
Dilutive stock options outstanding	—		—		28		—
Weighted-average ordinary shares outstanding used in per share calculations - diluted	52,145		53,827		53,425		53,827
Net income (loss) per ordinary share:
Basic	$	(0.36)	$	(2.34)	$	0.27	$	(3.45)
Diluted	$	(0.36)	$	(2.34)	$	0.26	$	(3.45)

Ordinary Shares Equivalent Not Included in Diluted Net Income (Loss) Per Ordinary Share

The equivalent ordinary shares not included in diluted net income (loss) per share because their effect would be anti-dilutive are as follows (in thousands):


	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Stock options to purchase ordinary shares	11,762	12,895	11,201	12,895
Restricted Stock Units (RSU)	1,423	283	75	283
Total	13,185	13,178	11,276	13,178