| Net (loss) income per share |
8. Net (loss) income per share Basic and diluted net (loss) income per share is computed by dividing net (loss) income by the weighted-average number of common shares outstanding. The following tables set forth the computation of basic and diluted net (loss) income per share: | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, | | | Nine Months Ended September 30, | | | | | 2026 | | 2025 | | | 2026 | | 2025 | | | Numerator: | | | | | | | | | | | | | | | | | Net (loss) income, basic | | $ | (51,693) | | $ | 15,896 | | | | $ | 28,994 | | $ | 817,609 | | | Add: Interest expense, net of tax, on the Company's 2026 and 2031 Convertible Notes | | | — | | | 1,096 | | | | | 2,789 | | | 3,257 | | | Net (loss) income, diluted | | $ | (51,693) | | $ | 16,992 | | | | $ | 31,783 | | $ | 820,866 | | | Denominator: | | | | | | | | | | | | | | | | | Weighted-average number of shares outstanding, basic | | | 83,476,100 | | | 78,471,119 | | | | | 83,004,625 | | | 78,642,478 | | | Effect of dilutive securities: | | | | | | | | | | | | | | | | | Common stock issuable under the Company's equity incentive plans | | | — | | | 3,170,135 | | | | | 3,601,228 | | | 2,783,134 | | | Common stock issuable under the Company's 2026 and 2031 Convertible Notes | | | — | | | 5,474,115 | | | | | 5,647,822 | | | 5,474,115 | | | Weighted-average common shares outstanding, diluted | | | 83,476,100 | | | 87,115,369 | | | | | 92,253,675 | | | 86,899,727 | | | Net (loss) income per common share, basic | | $ | (0.62) | * | $ | 0.20 | | | | $ | 0.35 | | $ | 10.40 | | | Net (loss) income per common share, diluted | | $ | (0.62) | * | $ | 0.20 | | | | $ | 0.34 | | $ | 9.45 | | |
* In the three months ended September 30, 2026, the Company experienced a net loss and therefore did not report any dilutive share impact. The following table shows historical common share equivalents outstanding, which are not included in the above calculation, as the effect of their inclusion is anti-dilutive during each period. The anti-dilutive shares are calculated as the unweighted outstanding shares as of the reporting period end date that are antidilutive on a year to date basis using the treasury stock method. | | | | | | | | As of September 30, | | | | 2026 | | 2025 | | Stock options | | 875,727 | | 3,246,389 | | Unvested restricted stock units | | 5,100 | | 90,900 | | Unvested performance based restricted stock units | | 75,893 | | — | | Total | | 956,720 | | 3,337,289 | |
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