v3.26.3
Net Income (Loss) Per Share
 9 Months Ended
Sep. 30, 2026
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share Net Income (Loss) Per Share
The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except share and per share amounts):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Numerator:
Net income (loss)$70,126 $(126,902)$(185,874)$(383,991)
Denominator:
Weighted-average number of:
Common stock shares outstanding
160,055,881 146,375,427 159,121,014 145,656,118 
Pre-funded warrants
28,331,779 26,046,065 28,331,779 26,046,065 
Weighted-average number of shares outstanding, basic
188,387,660 172,421,492 187,452,793 171,702,183 
Dilutive effect of outstanding common stock options, ESPP shares issuable, and restricted shares3,690,195 — — — 
Weighted-average number of shares outstanding, diluted192,077,855 172,421,492 187,452,793 171,702,183 
Net income (loss) per share, basic$0.37 $(0.74)$(0.99)$(2.24)
Net income (loss) per share, diluted$0.37 $(0.74)$(0.99)$(2.24)
Potentially dilutive securities, including options issued and outstanding, Employee Stock Purchase Plan (“ESPP”) shares issuable, and restricted shares subject to future vesting, that were not included in the diluted per share calculations for the periods presented because they would be anti-dilutive totaled approximately 16.6 million and 28.3 million shares for the three and nine months ended September 30, 2026, respectively, and 27.4 million shares for both the three and nine months ended September 30, 2025.