| NET INCOME (LOSS) PER SHARE |
2. |
Net Income (Loss) Per Share |
The following table sets forth the computation of basic and diluted earnings per share (in thousands except per share amounts):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
EPS Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
|
$ |
59,613 |
|
$ |
(1,030) |
|
$ |
71,059 |
|
$ |
(9,277) |
EPS Denominator—Basic: |
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|
|
|
|
|
|
|
|
|
|
|
Weighted-average common shares outstanding |
|
|
17,885 |
|
|
17,549 |
|
|
17,848 |
|
|
17,534 |
EPS Denominator—Diluted: |
|
|
|
|
|
|
|
|
|
|
|
|
Weighted-average common shares outstanding |
|
|
17,885 |
|
|
17,549 |
|
|
17,848 |
|
|
17,534 |
Dilutive effect of stock options, RSUs and shares under Purchase Plan |
|
|
277 |
|
|
— |
|
|
320 |
|
|
— |
Weighted-average shares outstanding and common stock equivalents |
|
|
18,162 |
|
|
17,549 |
|
|
18,168 |
|
|
17,534 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per share |
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
3.33 |
|
$ |
(0.06) |
|
$ |
3.98 |
|
$ |
(0.53) |
Diluted |
|
$ |
3.28 |
|
$ |
(0.06) |
|
$ |
3.91 |
|
$ |
(0.53) |
The potential shares of common stock that were excluded from the computation of diluted net income (loss) per share for the periods presented because including them would have been antidilutive are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
|
|
2025 |
|
2024 |
|
2025 |
|
2024 |
Stock options |
|
|
2,955 |
|
|
3,691 |
|
|
2,937 |
|
|
3,691 |
RSUs |
|
|
314 |
|
|
388 |
|
|
263 |
|
|
388 |
Total |
|
|
3,269 |
|
|
4,079 |
|
|
3,200 |
|
|
4,079 |
|