Three months ended June 30,

Six months ended June 30,

2024

2023

2024

2023

(in thousands, except per share amounts)

Numerator:

Net income (loss)

$

14,944

$

(85,320)

$

36,798

$

(76,579)

Interest expense associated with convertible notes

512

—

1,026

—

Net income (loss) available to common shareholders

$

15,456

$

(85,320)

$

37,824

$

(76,579)

Denominator:

Basic weighted average shares outstanding

56,277

52,861

56,160

51,764

Effect of potentially dilutive share-based awards

1,316

—

1,118

—

Dilutive effect of convertible notes

4,942

—

4,455

—

Diluted weighted average shares outstanding

62,535

52,861

61,733

51,764

Net income per common share:

Basic

$

0.27

$

(1.61)

$

0.66

$

(1.48)

Diluted

$

0.25

$

(1.61)

$

0.61

$

(1.48)

Common share equivalents excluded from the diluted weighted average shares outstanding since the Company incurred a net loss and their effect would be antidilutive

N/A

838

N/A

674

Potentially dilutive shares excluded from the diluted calculation as their effect would be antidilutive

226

743

26

763

Potential shares to be issued for settlement of the convertible notes excluded from the diluted calculation as their effect would be antidilutive

N/A

8,868

N/A

11,722