Basic and Diluted Net Loss Per Share (Tables)

9 Months Ended

Sep. 30, 2023

Earnings Per Share [Abstract]

Summary of Computations of Basic Net Income (Loss) Per Share and Diluted Net Loss Per Share

The following table summarizes the computations of basic net income (loss) per share and diluted net loss per share. Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potential dilutive shares of common stock. The Company uses the if converted method for convertible senior notes for calculating any potential dilutive effect on diluted net loss per share. (In thousands, except share and per share data).

	Three Months Ended September 30,						Nine Months Ended September 30,
	2023			2022			2023			2022
Net income (loss)	$	1,683		$	(22,080	)	$	(28,015	)	$	(77,335	)
Dilutive effect of convertible notes, net of tax		(11,611	)		—			(10,132	)		—
Adjusted net loss	$	(9,928	)	$	(22,080	)	$	(38,147	)	$	(77,335	)
Weighted-average common stock outstanding — basic		40,782,696			39,746,242			40,537,922			39,583,684
Dilutive potential common shares related to convertible notes		3,061,638			—			3,196,507			—
Weighted-average common stock outstanding — diluted		43,844,334			39,746,242			43,734,429			39,583,684
Basic net income (loss) per share	$	0.04		$	(0.56	)	$	(0.69	)	$	(1.95	)
Diluted net loss per share	$	(0.23	)	$	(0.56	)	$	(0.87	)	$	(1.95	)

Schedule of Common Equivalent Shares were Excluded from Diluted Net Loss Per Share Calculation because their Inclusion would have been Anti-Dilutive

The following common equivalent shares were excluded from the diluted net loss per share calculation because their inclusion would have been anti-dilutive:

	As of September 30,
	2023		2022
Convertible senior notes		—		6,080,480
Stock-based compensation grants		3,405,200		3,995,619
Total		3,405,200		10,076,099