Basic net loss per share is calculated by dividing the net loss by the weighted-average common shares outstanding. Pre-funded warrants to purchase 2,412,632 shares of the Company's stock were included in the weighted-average common shares outstanding used in calculating net loss per share for the three and nine months ended September 30, 2026.

The following tables summarize the components of the basic and diluted EPS computations (in thousands, except per share amounts):


	Three Months Ended September 30,					Nine Months Ended September 30,
	2026			2025		2026			2025
EPS – basic:
Net (loss) income (numerator)	$	(23,224	)	$	7,985	$	(58,874	)	$	21,811
Weighted average common shares (denominator)		320,182			306,806		312,722			305,093
Net (loss) income per share	$	(0.07	)	$	0.03	$	(0.19	)	$	0.07
EPS – diluted:
Net (loss) income (numerator)		(23,224	)		7,985		(58,874	)		21,811
Weighted average common shares		320,182			306,806		312,722			305,093
Effect of dilutive securities – common shares issuable		—			4,832		—			8,246
Adjusted weighted average common shares (denominator)		320,182			311,638		312,722			313,339
Net (loss) income per share	$	(0.07	)	$	0.03	$	(0.19	)	$	0.07

For the three months ended September 30, 2026, diluted net loss per share was the same as basic net loss per share because the inclusion of potential common shares would have been antidilutive. Potentially dilutive securities outstanding for the three months ended September 30, 2026 were 1.4 million shares of common stock underlying RSUs and Market RSUs and 3.2 million shares of common stock underlying options.

For the nine months ended September 30, 2026, diluted net loss per share was the same as basic net loss per share because the inclusion of potential common shares would have been antidilutive. Potentially dilutive securities outstanding for the nine months ended September 30, 2026 were 2.1 million shares of common stock underlying RSUs and Market RSUs and 3.0 million shares of common stock underlying options.

For the three months ended September 30, 2025, diluted net income per share excluded the weighted average effect of 13.7 million shares of common stock underlying RSUs and Market and Performance RSUs, 0.8 million shares underlying options and PNQs, and 7.0 million common shares issuable upon conversion of our senior convertible notes as they were antidilutive.

For the nine months ended September 30, 2025, diluted net income per share excluded the weighted average effect of 6.2 million shares of common stock underlying RSUs and Market and Performance RSUs, 0.3 million shares underlying options and PNQs, and 7.0 million common shares issuable upon conversion of our senior convertible notes as they were antidilutive.