Earnings (Net Loss) Per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Earnings (Net Loss) Per Share

3. Earnings (Net Loss) Per Share

Basic earnings (net loss) per share is calculated by dividing the net income (loss) by the weighted average number of common shares outstanding for the period. Diluted earnings (net loss) per share is computed by dividing the net income (loss) by the weighted average number of common shares and common stock equivalents outstanding for the period determined using the treasury stock method. For purposes of diluted earnings (net loss) per share calculation, equity awards and employee stock purchase plan rights are considered to be common stock equivalents.

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share data)	2024		2023		2024		2023
Net income (loss) - basic and diluted	$	33,389	$	1,114	$	49,944	$	(41,907	)
Weighted average shares outstanding:
Basic		165,551		163,458		165,174		163,109
Effect of potentially dilutive common shares from:
Equity awards		578		1,533		1,138		—
Employee stock purchase plan rights		45		55		79		—
Diluted		166,174		165,046		166,391		163,109
Earnings (net loss) per share:
Basic	$	0.20	$	0.01	$	0.30	$	(0.26	)
Diluted	$	0.20	$	0.01	$	0.30	$	(0.26	)
Potentially dilutive shares excluded from per share amounts as their effect    would have been anti-dilutive		20,944		16,378		17,533		23,174