Earnings Per Share

12 Months Ended

Dec. 31, 2025

A reconciliation of the number of shares in the calculation of basic and diluted earnings per share follows:


	Year Ended December 31,
	2025		2024		2023

	(in thousands)
Basic earnings per share:
Numerator:
Net (loss) income	$	(18,815)	$	30,740	$	23,818




Denominator:
Weighted-average common shares outstanding used in computing basic earnings per share	187,819		185,277		182,371
Basic earnings per share	$	(0.10)	$	0.17	$	0.13

Diluted earnings per share:
Numerator:
Net (loss) income	$	(18,815)	$	30,740	$	23,818
Denominator:
Weighted-average shares used in computing basic earnings per share	187,819		185,277		182,371
Add dilutive impact of employee equity plans	—		3,149		3,609
Weighted-average shares used in computing diluted earnings per share	187,819		188,426		185,980
Diluted earnings per share	$	(0.10)	$	0.16	$	0.13

The dilutive impact of employee equity awards was not applicable to the calculation of diluted net loss per share for the year ended December 31, 2025, as the effect would have been anti-dilutive.

The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of the diluted net income per share attributable to common stockholders for the periods presented because their effect would have been anti-dilutive or for which the performance condition had not been met at the end of the period:


	Year Ended December 31,
	2024	2023

	(in thousands)




Restricted stock units	19	30


Total anti-dilutive shares	19	30

The calculation of diluted earnings per share requires us to make certain assumptions related to the use of proceeds that would be received upon the assumed exercise of stock options, purchase of restricted stock or proceeds from the employee stock purchase plan.