| Net Income (Loss) Per Share |
Net Income (Loss) Per Share Net income (loss) per share (“EPS”) consists of the following (in thousands, except share and per share information): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Numerator | | | | | | | | | Net income (loss) | $ | 6,720 | | | $ | (26,228) | | | $ | 15,482 | | | $ | (47,339) | | Numerator for basic and dilutive EPS | $ | 6,720 | | | $ | (26,228) | | | $ | 15,482 | | | $ | (47,339) | | | | | | | | | | | Denominator | | | | | | | | Denominator for basic EPS – weighted average shares(1) | 73,925,823 | | 40,120,402 | | 73,907,690 | | 27,663,863 | | Effect of dilutive securities: | | | | | | | | | Stock options and restricted stock units | 4,717,747 | | — | | 4,867,289 | | — | | | | | | | | | | Denominator for diluted EPS – adjusted weighted average shares and assumed conversions | 78,643,570 | | 40,120,402 | | 78,774,979 | | 27,663,863 | | Basic EPS | $ | 0.09 | | | $ | (0.65) | | | $ | 0.21 | | | $ | (1.71) | | | Diluted EPS | $ | 0.09 | | | $ | (0.65) | | | $ | 0.20 | | | $ | (1.71) | | | | | | | | | | | Anti-Dilutive Securities excluded from the calculation of EPS | | | | | | | | | Stock options and restricted stock units | 8,849,102 | | 7,239,225 | | 8,141,031 | | 7,459,159 | | | | | | | | | | Warrants | — | | 534,139 | | — | | 534,134 | | | | | | | | | | Total potentially dilutive shares | 8,849,102 | | 7,773,364 | | 8,141,031 | | 7,993,293 |
(1) Weighted average shares combine the Company’s common stock, Class A common stock, and Class B common stock. See Note 10, Capitalization, for discussion of the establishment of the Company’s two classes of common stock and the conversion of its common stock into Class A common stock in connection with the Company’s IPO.
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