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Net Income (Loss) Per Share (Tables)
6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Schedule of computation of basic and diluted net income (loss) per share

The following table shows the computation of basic and diluted net income (loss) per share for the three and six months ended June 30, 2024 and 2023:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In thousands except per share data)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net income (loss), basic

 

$

(34,685

)

 

$

1,280

 

 

$

1,847

 

 

$

36,145

 

Add: interest expense on 2023 Notes, net of tax effect

 

 

 

 

 

 

 

 

 

 

 

71

 

Add: interest expense on 2025 Notes, net of tax effect

 

 

 

 

 

 

 

 

 

 

 

2,050

 

Add: interest expense on 2028 Notes, net of tax effect

 

 

 

 

 

 

 

 

 

 

 

2,554

 

Net income (loss), diluted

 

$

(34,685

)

 

$

1,280

 

 

$

1,847

 

 

$

40,820

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-average shares used to compute basic net income (loss)
  per share

 

 

62,526

 

 

 

65,341

 

 

 

62,856

 

 

 

66,557

 

Dilutive effect of 2023 Notes

 

 

 

 

 

 

 

 

 

 

 

376

 

Dilutive effect of 2025 Notes

 

 

 

 

 

 

 

 

 

 

 

11,150

 

Dilutive effect of 2028 Notes

 

 

 

 

 

 

 

 

 

 

 

9,955

 

Dilutive effect of options and awards granted under equity
   incentive plan and employee stock purchase plan

 

 

 

 

 

148

 

 

 

208

 

 

 

137

 

Weighted-average shares used to compute diluted net income (loss)
  per share

 

 

62,526

 

 

 

65,489

 

 

 

63,064

 

 

 

88,175

 

Net income (loss) per share

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

$

(0.55

)

 

$

0.02

 

 

$

0.03

 

 

$

0.54

 

Diluted

 

$

(0.55

)

 

$

0.02

 

 

$

0.03

 

 

$

0.46

 

Schedule of anti-dilutive securities

The following common stock equivalents were not included in the computation of diluted net income (loss) per share because their effect was anti-dilutive for the periods presented:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

(In thousands)

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Outstanding options and awards granted under equity incentive
   plan and employee stock purchase plan

 

 

1,897

 

 

 

1,319

 

 

 

1,542

 

 

 

1,260

 

Outstanding stock warrant

 

 

591

 

 

 

591

 

 

 

591

 

 

 

591

 

Outstanding 2025 Notes

 

 

11,150

 

 

 

11,150

 

 

 

11,150

 

 

 

 

Outstanding 2028 Notes

 

 

9,955

 

 

 

9,955

 

 

 

9,955

 

 

 

 

Total

 

 

23,593

 

 

 

23,015

 

 

 

23,238

 

 

 

1,851