Basic net income (loss) per common share is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the relevant period, without consideration of potentially dilutive securities. Diluted net income (loss) per common share is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the relevant period, adjusted for the effect of potentially dilutive securities. The dilutive effect of RSUs and stock options are calculated using the treasury stock method.

The following table summarizes the calculation of basic and diluted net income (loss) per share of common stock:


	Three Months Ended September 30,					Nine Months Ended September 30,
	2026		2025			2026			2025
	(in thousands, except per share amounts)
Basic net income (loss) per common share:
Net income (loss) attributable to common stockholders	$	20,401	$	(42,152	)	$	(90,444	)	$	(185,341	)
Weighted-average number of common shares – basic		307,002		260,494			293,286			245,580
Basic net income (loss) per common share	$	0.07	$	(0.16	)	$	(0.31	)	$	(0.75	)

Diluted net income (loss) per common share:
Net income (loss) attributable to common stockholders	$	20,401	$	(42,152	)	$	(90,444	)	$	(185,341	)
Weighted-average number of common shares – basic		307,002		260,494			293,286			245,580
Effect of dilutive securities:
Stock options and restricted stock units		1,788		-			-			-
Weighted-average number of common shares – diluted		308,790		260,494			293,286			245,580
Diluted net income (loss) per common share	$	0.07	$	(0.16	)	$	(0.31	)	$	(0.75	)

The following securities were excluded from the computation of net income (loss) per diluted share of common stock for periods presented as their effect would have been anti-dilutive:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
	(in thousands)				(in thousands)
Options to purchase common stock		25,744		23,364		28,054		23,364
Unvested RSUs		1,246		3,489		4,588		3,489
Total		26,990		26,853		32,642		26,853

15. Net income (loss) per share