v3.26.3
NET EARNINGS (LOSS) PER SHARE
9 Months Ended
Sep. 30, 2026
NET EARNINGS (LOSS) PER SHARE  
NET EARNINGS (LOSS) PER SHARE

NOTE 6  NET EARNINGS (LOSS) PER SHARE

Basic net earnings (loss) per common share is calculated by dividing the net income (loss) by the weighted-average number of common shares outstanding during the period, without consideration of potentially dilutive securities. Diluted net earnings (loss) per share is computed by dividing the net income (loss) by the weighted-average number of common shares and potentially dilutive securities outstanding for the period. For purposes of the diluted net earnings (loss) per share calculation, common stock options and unvested restricted stock units are considered to be potentially dilutive securities. For the periods in which the Company reported a net loss, diluted net earnings (loss) per common share is the same as basic net earnings (loss) per common share.

The following table sets forth the computation of the basic and diluted net earnings (loss) per share (in thousands, except share and per share data):

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Three months ended September 30, 

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Nine months ended September 30, 

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  ​ ​ ​

2026

  ​ ​

2025

  ​ ​ ​

2026

  ​ ​ ​

2025

Numerator

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​

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​

​

​

​

​

Net income (loss)

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$

1,166,151

​

$

(40,666)

​

$

1,059,811

 

$

(117,579)

Denominator

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​

 

​

​

 

​

​

 

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Weighted-average shares outstanding used in basic earnings (loss) per share

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​

108,870,331

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​

105,492,779

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​

107,892,028

​

​

101,892,400

Effect of dilutive options to purchase common stock

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​

11,388,221

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​

​

​

​

11,023,783

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​

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Effect of dilutive restricted stock units

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​

615,533

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​

—

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​

728,055

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​

—

Weighted-average shares outstanding used in diluted earnings (loss) per share

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​

120,874,085

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​

105,492,779

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​

119,643,866

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​

101,892,400

Basic earnings (loss) per share

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$

10.71

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$

(0.39)

​

$

9.82

​

$

(1.15)

Diluted earnings (loss) per share

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$

9.65

​

$

(0.39)

​

$

8.86

​

$

(1.15)

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The following weighted average outstanding shares of potentially dilutive securities were excluded from the computation of diluted net earnings (loss) per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive:

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Three months ended September 30, 

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Nine months ended September 30, 

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  ​ ​ ​

2026

  ​ ​

2025

  ​ ​

2026

  ​ ​ ​

2025

Options to purchase common stock

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​

201,310

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​

18,235,885

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​

217,237

​

​

17,290,321

Unvested restricted stock units

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​

10,343

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​

937,687

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​

32,744

​

​

748,091

Total

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​

211,653

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19,173,572

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​

249,981

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​

18,038,412

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