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NET INCOME (LOSS) PER COMMON SHARE
 9 Months Ended
Sep. 30, 2026
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER COMMON SHARE
11. NET INCOME (LOSS) PER COMMON SHARE
We compute basic net income (loss) per common share by dividing net income (loss) by the weighted-average number of common shares outstanding. Diluted net income per common share utilizing the treasury stock and if-converted methods is based upon the weighted-average number of common shares and dilutive potential common share equivalents outstanding during the period. For periods in which we have generated a net loss, diluted net loss per common share is the same as basic net loss per common share, as the inclusion of potentially dilutive common shares would be anti-dilutive.
The following table sets forth the computation of basic and diluted net income (loss) per share:
Three Months Ended September 30,Nine Months Ended September 30,
(In thousands, except per share amounts)
2026202520262025
Net income, as reported$2,167,335 $292,683 $2,537,820 $202,204 
Adjustment for the elimination of interest expense on the convertible debt
2,067 1,608 7,091 — 
Net income, for use in diluted income per share$2,169,402 $294,291 $2,544,911 $202,204 
Weighted-average common shares — basic
133,828 131,447 133,444 130,590 
Effect of dilutive securities:
Convertible debt2,255 1,583 2,255 — 
Options to purchase common stock, inclusive of performance-based stock options1,305 2,454 1,605 2,245 
Restricted stock units, inclusive of performance-based restricted stock units
650 1,847 877 1,304 
Employee stock purchase program
2 17 3 7 
Weighted-average common shares — diluted
138,040 137,348 138,184 134,146 
Net income per common share — basic$16.19 $2.23 $19.02 $1.55 
Net income per common share — diluted$15.72 $2.14 $18.42 $1.51 
The following table sets forth the potential weighted-average common shares excluded from the calculation of diluted net income (loss) per common share because their inclusion would be anti-dilutive:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(In thousands)2026202520262025
Options to purchase common stock, inclusive of performance-based stock options424 — 298 157 
Unvested restricted stock units, inclusive of performance-based restricted stock units933 3 581 7 
Convertible debt— 1,788 — 3,491 
Total1,357 1,791 879 3,655 
The effect of the 2022 Capped Call Transactions and 2025 Capped Call Transactions was also excluded from the calculation of diluted net income (loss) per share because exercise of these transactions would potentially reduce the number of shares of the Company’s common stock outstanding and, therefore, would be anti-dilutive. In each of the three and nine months ended September 30, 2026, we excluded 8.5 million shares and in the three and nine months ended September 30, 2025, we excluded 5.8 million shares and 5.4 million shares, respectively, related to these transactions.