Basic and Diluted (Loss) Earnings per Share (Tables)

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Computation of Basic and Diluted (Loss) Earnings per Share

The following table sets forth the computation of basic and diluted (loss) earnings per share (in thousands, except per share data) for the periods indicated:

	Three Months Ended
	March 31,
	2024			2023
Numerator:
Net (loss) income - Basic	$	(53,118	)	$	461,193
Effect of dilutive shares on net (loss) income:
Interest expense on 2025 Convertible Notes, net of tax		0			1,414
Interest expense on 2027 Convertible Notes, net of tax		0			720
Interest expense on 2030 Convertible Notes, net of tax		0			0
Interest expense on 2031 Convertible Notes, net of tax		0			0
Net (loss) income - Diluted	$	(53,118	)	$	463,327
Denominator:
Weighted average common shares of class A common stock		15,230			9,870
Weighted average common shares of class B common stock		1,964			1,964
Total weighted average shares of common stock outstanding - Basic		17,194			11,834
Effect of dilutive shares on weighted average common shares outstanding:
Stock options		0			354
Restricted stock units		0			21
Performance stock units		0			0
Employee stock purchase plan		0			0
2025 Convertible Notes		0			1,633
2027 Convertible Notes		0			733
2030 Convertible Notes		0			0
2031 Convertible Notes		0			0
Total weighted average shares of common stock outstanding - Diluted		17,194			14,575
(Loss) earnings per share:
Basic (loss) earnings per share (1)	$	(3.09	)	$	38.97
Diluted (loss) earnings per share (1)	$	(3.09	)	$	31.79

(1) Basic and fully diluted (loss) earnings per share for class A and class B common stock are the same.

Schedule of Weighted Average of Potential Class A Common Stock Excluded from Computation of (Loss) Earnings Per Share

For the three months ended March 31, 2024 and 2023, the following weighted average shares of potential class A common stock were excluded from the diluted (loss) earnings per share calculation because their impact would have been anti-dilutive (in thousands):

	Three Months Ended
	March 31,
	2024		2023
Stock options		1,048		711
Restricted stock units		181		42
Performance stock units		52		0
Employee stock purchase plan		1		3
2025 Convertible Notes		1,633		0
2027 Convertible Notes		733		0
2030 Convertible Notes		141		0
2031 Convertible Notes		40		0
Total		3,829		756