Basic earnings per share is calculated by dividing the net income or loss by the weighted-average number of shares of common stock outstanding during the period, without consideration for potentially dilutive securities. Diluted earnings per share is computed by dividing the net income or loss by the weighted-average number of shares of common stock, plus potentially dilutive securities outstanding for the period, as determined in accordance with the treasury stock, if-converted, or contingently issuable accounting methods, depending on the nature of the security. For purposes of the diluted earnings per share calculation, stock options, restricted stock units (“RSUs”), performance share units (“PSUs”), and shares potentially issuable in connection with the Company’s employee stock purchase plan and convertible senior notes are considered potentially dilutive securities and included to the extent that their addition is not antidilutive.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator:
Net (loss) income	$	(15,051)	$	11,983	$	(555)	$	14,400
Adjustment for interest expense on convertible senior notes, net of tax	—		1,482		—		2,960
Net (loss) income - diluted	$	(15,051)	$	13,465	$	(555)	$	17,360
Denominator:
Weighted-average shares outstanding — basic	32,460,783		31,810,612		32,275,159		31,802,222
Effect of dilutive securities:
Stock options	—		213,054		—		231,458
Restricted stock units	—		445,593		—		643,312
Employee stock purchase plan	—		139		—		—
Convertible senior notes	—		6,606,305		—		6,606,305
Weighted average shares outstanding — diluted	32,460,783		39,075,703		32,275,159		39,283,297

(Loss) earnings per share — basic	$	(0.46)	$	0.38	$	(0.02)	$	0.45
(Loss) earnings per share — diluted	$	(0.46)	$	0.34	$	(0.02)	$	0.44


	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Stock options	512,829	130,344	512,829	130,344
Restricted stock units	2,453,059	666,052	2,453,059	224,465
Performance share units	459,982	313,642	459,982	313,642
Employee stock purchase plan	26,170	—	26,170	32,320
Convertible notes	6,606,305	—	6,606,305	—

For performance share units, these securities were excluded from the calculation of diluted earnings per share as the market-based vesting conditions were not met as of the end of the reporting period. All other securities presented in the table above were excluded from the calculation of diluted earnings per share as their inclusion would have had an antidilutive effect.