v3.26.3
Net Income per Share Attributable to Common Stockholders
 9 Months Ended
Sep. 30, 2026
Earnings Per Share [Abstract]  
Net Income per Share Attributable to Common Stockholders Net Income per Share Attributable to Common Stockholders
The following table presents the calculation of basic and diluted net income per share:
Three Months EndedNine Months Ended
September 30,September 30,
(In thousands, except per share amounts)2026202520262025
Basic net income per share:
Numerator:
Net income (loss) attributable to common stockholders$(42,609)$158,371 $8,599 $233,602 
Denominator:
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders114,682 91,191 104,190 91,421 
Basic$(0.37)$1.74 $0.08 $2.56 
Diluted net income per share:
Numerator:
Net income (loss) attributable to common stockholders$(42,609)$158,371 $8,599 $233,602 
Interest expense on dilutive convertible notes, net of tax— 1,203 — 4,399 
Net income (loss) used in diluted calculation$(42,609)$159,574 $8,599 $238,001 
Denominator:
Number of shares used in basic calculation 114,682 91,191 104,190 91,421 
Weighted-average effect of dilutive securities:
Stock Options
— 664 662 762 
RSUs
— 428 2,880 779 
PRSUs
— 81 153 69 
MRSUs— — 164 — 
2026 Convertible Notes
— 5,004 — 7,258 
2030 Convertible Notes— 8,152 — 2,747 
Number of shares used in diluted calculation
114,682 105,520 108,049 103,036 
Diluted net income (loss) per share attributable to common stockholders$(0.37)$1.51 $0.08 $2.31 
We calculate the potential dilutive effect of the convertible senior notes under the if-converted method. Under this method, diluted earnings per share are determined by assuming that outstanding convertible senior notes were converted into shares of our common stock at the beginning of the reporting period.
In connection with the issuance of the convertible senior notes, we entered into the capped call transactions, which were not included for purposes of calculating the number of diluted shares outstanding, as their effect would have been anti-dilutive. The capped call transactions are expected to partially offset the potential dilution to our common stock upon any conversion of the convertible senior notes.
Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:
Three Months EndedNine Months Ended
September 30,September 30,
(In thousands)2026202520262025
Stock Options562 — — — 
RSUs2,702 2,988 58 2,692 
PRSUs163 — 1 — 
MRSUs172 — — — 
2026 Convertible Notes
1,750 — 1,750 — 
2030 Convertible Notes
6,922 — 12,912 — 
Total12,271 2,988 14,721 2,692