Subsequent Events (Tables)

6 Months Ended

Jun. 30, 2024

Subsequent Event [Line Items]

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.

Pro Forma (Unaudited) | Stock Split

Subsequent Event [Line Items]

Computation of Basic and Diluted Basic and Diluted (Loss) Earnings per Share per Share

The following table reflects the computation of basic and diluted (loss) earnings per share (in thousands, except per share data) on an unaudited pro forma basis giving effect to the 10-for-1 stock split as if it had been effective for all periods presented:

	Pro Forma (Unaudited)
	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
Net (loss) income - Diluted	$	(102,559	)	$	24,392	$	(155,677	)	$	487,719
Denominator:
Total weighted average shares of common stock outstanding - Basic		178,610			132,470		175,330			117,390
Total weighted average shares of common stock outstanding - Diluted		178,610			160,950		175,330			145,340
(Loss) earnings per share:
Basic (loss) earnings per share (1)	$	(0.57	)	$	0.17	$	(0.89	)	$	4.12
Diluted (loss) earnings per share (1)	$	(0.57	)	$	0.15	$	(0.89	)	$	3.36

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