Three months ended September 30,

Nine months ended September 30,

2024

2023

2024

2023

(in thousands, except per share amounts)

Numerator:

Net income (loss)

$

21,951

$

24,574

$

58,749

$

(52,005)

Interest expense associated with convertible notes

515

513

1,541

—

Net income (loss) available to common shareholders

$

22,466

$

25,087

$

60,290

$

(52,005)

Denominator:

Basic weighted average shares outstanding

56,410

55,352

56,256

52,978

Effect of potentially dilutive share-based awards

1,606

1,391

1,329

—

Dilutive effect of convertible notes

4,638

2,893

4,518

—

Diluted weighted average shares outstanding

62,654

59,636

62,103

52,978

Net income (loss) per common share:

Basic

$

0.39

$

0.44

$

1.04

$

(0.98)

Diluted

$

0.36

$

0.42

$

0.97

$

(0.98)

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

873

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

3

112

54

737

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

N/A

8,790