Three Months Ended

Six Months Ended

June 30,

(in thousands, except share and per share data)

2024

2023

2024

2023

Basic net income (loss) per share

Numerator:

Net income (loss)

$

(12,921)

$

(42,869)

$

89,954

$

(118,598)

Denominator:

Weighted-average common shares outstanding

114,819,965

87,269,614

113,784,636

83,469,247

Basic net income (loss) per share

$

(0.11)

$

(0.49)

$

0.79

$

(1.42)

Diluted net income (loss) per share

Numerator:

Net income (loss)

$

(12,921)

$

(42,869)

$

89,954

$

(118,598)

Add interest expense on convertible notes, net of tax

—

2,392

—

Numerator for diluted net income (loss) per share

$

(12,921)

$

(42,869)

$

92,346

$

(118,598)

Denominator:

Denominator for basic net income (loss) per share

114,819,965

87,269,614

113,784,636

83,469,247

Add effect of potential dilutive securities:

Stock options, including shares subject to ESPP

—

231,846

—

Restricted stock units

—

216,168

—

Shares issuable upon conversion of convertible notes

—

11,942,152

—

Denominator for diluted net income (loss) income per share

114,819,965

87,269,614

126,174,802

83,469,247

Diluted net income (loss) per share

$

(0.11)

$

(0.49)

$

0.73

$

(1.42)