v3.26.1
EARNINGS PER COMMON SHARE
6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
EARNINGS PER COMMON SHARE EARNINGS PER COMMON SHARE
Potentially issuable shares of common stock include shares issuable upon the exercise of outstanding employee stock option awards, common stock issuable under the ESPP, unvested RSUs and contingent issuances of common stock related to the Company’s convertible debt.
The following table sets forth the computation of basic and diluted earnings per common share (common shares in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
Numerator:
Net income, basic
$44,762 $240,532 $150,289 $426,218 
Add: Interest expense, net of tax, on the Company's convertible debt— 1,833 — 3,665 
Net income, diluted
$44,762 $242,365 $150,289 $429,883 
Denominator:
Weighted-average common shares outstanding, basic193,423 191,907 192,959 191,440 
Effect of dilutive securities:
Common stock issuable under the Company's equity incentive plans1,044 819 1,188 838 
Common stock issuable under the Company’s convertible debt
— 4,365 — 4,365 
Weighted-average common shares outstanding, diluted194,467 197,091 194,147 196,643 
Earnings per common share, basic
$0.23 $1.25 $0.78 $2.23 
Earnings per common share, diluted
$0.23 $1.23 $0.77 $2.19 
In addition to the equity instruments included in the table above, the table below presents potential shares of common stock that were excluded from the computation of diluted earnings per common share as they were anti-dilutive (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
Common stock issuable under the Company's equity incentive plans13,284 11,815 13,140 11,795 
Common stock issuable under the Company’s convertible debt
4,365 — 4,365 — 
Total number of potentially issuable shares17,649 11,815 17,505 11,795