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

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Computation of Basic and Diluted Basic and Diluted (Loss) Earnings per Share 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					Six Months Ended
	June 30,					June 30,
	2024			2023		2024			2023
Numerator:
Net (loss) income - Basic	$	(102,559	)	$	22,243	$	(155,677	)	$	483,436
Effect of dilutive shares on net (loss) income:
Interest expense on 2025 Convertible Notes, net of tax		0			1,424		0			2,838
Interest expense on 2027 Convertible Notes, net of tax		0			725		0			1,445
Net (loss) income - Diluted	$	(102,559	)	$	24,392	$	(155,677	)	$	487,719
Denominator:
Weighted average common shares of class A common stock		15,897			11,283		15,569			9,775
Weighted average common shares of class B common stock		1,964			1,964		1,964			1,964
Total weighted average shares of common stock outstanding - Basic		17,861			13,247		17,533			11,739
Effect of dilutive shares on weighted average common shares outstanding:
Stock options		0			441		0			398
Restricted stock units		0			37		0			29
Performance stock units		0			3		0			2
Employee stock purchase plan		0			1		0			0
2025 Convertible Notes		0			1,633		0			1,633
2027 Convertible Notes		0			733		0			733
Total weighted average shares of common stock outstanding - Diluted		17,861			16,095		17,533			14,534
(Loss) earnings per share:
Basic (loss) earnings per share (1)	$	(5.74	)	$	1.68	$	(8.88	)	$	41.18
Diluted (loss) earnings per share (1)	$	(5.74	)	$	1.52	$	(8.88	)	$	33.56

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

For the three and six months ended June 30, 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				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Stock options		614		643		831		677
Restricted stock units		187		35		184		39
Performance stock units		61		0		56		0
Employee stock purchase plan		2		0		1		2
2025 Convertible Notes		366		0		1,000		0
2027 Convertible Notes		733		0		733		0
2030 Convertible Notes		534		0		338		0
2031 Convertible Notes		259		0		150		0
2032 Convertible Notes		60		0		30		0
Total		2,816		678		3,323		718