Net income (loss) per share

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

Net income (loss) per share

Net income (loss) per share

The following table sets forth the computation of basic and diluted net income (loss) per share:

	Three Months Ended March 31,
	2025		2024
	(in thousands, except share and per share amounts)
Numerator:
Net income (loss)	$	529	$	(20,524)
Denominator:
Weighted-average shares used to compute net income (loss) per share, basic	129,845,214		127,292,097
Weighted-average effect of potentially dilutive securities	10,228,109		—
Weighted-average shares used to compute net income (loss) per share, diluted	140,073,323		127,292,097
Net income (loss) per share, basic	$	0.00	$	(0.16)
Net income (loss) per share, diluted	$	0.00	$	(0.16)

Basic net income (loss) per common share is calculated by dividing net income (loss) by the weighted-average number of common shares outstanding during the period without consideration for potentially dilutive securities. Because we have reported a net loss for the three months ended March 31, 2024, the number of shares used to calculate diluted net loss per common share is the same as the number of shares used to calculate basic net loss per common share for this period given that the potentially dilutive shares would have been anti-dilutive if included in the calculation.

The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted-average shares outstanding because such securities have an anti-dilutive impact:

	As of March 31,
	2025	2024
Stock options outstanding	—	3,595,924
Unvested restricted stock units	2,329,086	13,409,972
Shares related to the 2026 Notes	—	7,475,897
Shares committed under the 2021 ESPP	—	217,453
Total potentially dilutive securities	2,329,086	24,699,246