| Net Income (Loss) Per Share |
Note 6—Net Income (Loss) Per Share The following table presents the calculation of basic and diluted net income (loss) per share for the periods presented below (in thousands, except per share amounts): | | | | | | | | | | | | | | | | | | | Three Months Ended
September 30, | | Nine Months Ended
September 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Numerator: | | | | | | | | | Net income from continuing operations—basic | $ | 113,637 | | | $ | 104,596 | | | $ | 332,638 | | | $ | 115,147 | | | Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes | 3,337 | | | 3,333 | | | 10,011 | | | 6,792 | | | Net income from continuing operations—diluted | $ | 116,974 | | | $ | 107,929 | | | $ | 342,649 | | | $ | 121,939 | | | | | | | | | | | Net income (loss) from discontinued operations—basic and diluted | $ | 739,880 | | | $ | (29,093) | | | $ | 543,909 | | | $ | (62,900) | | | | | | | | | | | Total net income—basic | $ | 853,517 | | | $ | 75,503 | | | $ | 876,547 | | | $ | 52,247 | | | Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes | 3,337 | | | 3,333 | | | 10,011 | | | 6,792 | | | Total net income—diluted | $ | 856,854 | | | $ | 78,836 | | | $ | 886,558 | | | $ | 59,039 | | | | | | | | | | | Denominator: | | | | | | | | | Weighted-average common shares outstanding—basic | 91,099 | | | 99,334 | | | 94,273 | | | 103,660 | | | Dilutive effect of outstanding stock-based compensation awards | 3,263 | | | 2,750 | | | 3,295 | | | 2,452 | | | Dilutive effect of assumed conversion of convertible senior notes | 22,873 | | | 22,873 | | | 22,873 | | | 17,912 | | | | | | | | | | | Weighted-average common shares outstanding—diluted | 117,235 | | | 124,957 | | | 120,441 | | | 124,024 | | | | | | | | | | | Basic net income (loss) per share attributable to common stockholders: | | | | | | | | | Continuing operations | $ | 1.25 | | | $ | 1.05 | | | $ | 3.53 | | | $ | 1.11 | | | Discontinued operations | 8.12 | | | (0.29) | | | 5.77 | | | (0.61) | | | Total basic net income per share attributable to common stockholders | $ | 9.37 | | | $ | 0.76 | | | $ | 9.30 | | | $ | 0.50 | | | | | | | | | | | Diluted net income (loss) per share attributable to common stockholders: | | | | | | | | | Continuing operations | $ | 1.00 | | | $ | 0.86 | | | $ | 2.84 | | | $ | 0.98 | | | Discontinued operations | 6.31 | | | (0.23) | | | 4.52 | | | (0.51) | | | Total diluted net income per share attributable to common stockholders | $ | 7.31 | | | $ | 0.63 | | | $ | 7.36 | | | $ | 0.47 | | | | | | | | | | | Outstanding stock-based compensation awards excluded from diluted weighted-average common shares outstanding because their effect would have been anti-dilutive | 633 | | | 3,831 | | | 1,032 | | | 4,086 | |
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