The Company computes earnings (loss) per share of common stock using the two-class method for participating securities. The dilutive effect of Convertible Senior Notes is calculated using the if-converted method and the dilutive effect of all other outstanding securities is calculated using the treasury stock method. The following table includes the calculation of basic and diluted earnings (loss) per share:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
	(in thousands except per share information)

Earnings (loss) available to common stockholders - basic	$	18,515	$	(15,340)	$	(31,982)	$	(69,392)
Gain on change in fair value of warrants	(14,383)		—		—		—
Earnings (loss) available to common stockholders - diluted	$	4,132	$	(15,340)	$	(31,982)	$	(69,392)


Shares used in the computation of basic earnings (loss) per share	40,735		35,194		38,454		32,843
Effect of dilutive securities on potential common shares:
Private placement warrants (exercisable for Class A common stock) treated as liability	398		—		—		—
Restricted stock units	1,160		—		—		—
Stock options and ESPP Shares	775		—		—		—
Common stock warrants (exercisable for Class A common stock) treated as equity	213		—		—		—
Shares used in the computation of diluted earnings (loss) per share	43,281		35,194		38,454		32,843

Basic earnings (loss) per share	$	0.45	$	(0.44)	$	(0.83)	$	(2.11)
Diluted earnings (loss) per share	$	0.10	$	(0.44)	$	(0.83)	$	(2.11)

The potentially dilutive securities listed below were not included in the calculation of diluted weighted average common shares outstanding because their effect would have been anti-dilutive during the three and nine months ended September 30, 2026 and 2025.


	Three Months Ended September 30,		Nine Months Ended September 30,
	2026 (1)	2025	2026	2025
	(in thousands)

Convertible Senior Notes	6,539	6,539	6,539	6,539
Restricted stock units outstanding	37	2,808	2,837	2,808
Private placement warrants (exercisable for Class A common stock) treated as liability	—	2,480	1,433	2,480
Stock options and ESPP shares	—	1,853	1,674	1,853
Sponsor Shares	296	296	296	296
Common stock warrants (exercisable for Class A common stock) treated as equity	—	221	221	221
Public warrants (exercisable for Class A common stock) treated as liability	—	1,977	—	1,977

(1) For the three months ended September 30, 2026, the Convertible Senior Notes were excluded from the calculation of diluted earnings per share because the addition of interest expense to the numerator, relative to the addition of shares to the denominator, would have been anti-dilutive. The restricted stock units and Sponsor Shares were considered to be anti-dilutive because the repurchase of buy-back shares results in fewer potential common shares outstanding.