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EARNINGS (LOSS) PER SHARE (Tables)

9 Months Ended

Sep. 30, 2026

Schedule of Basic and Diluted Net Loss Per Share

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


		For the Three Months Ended September 30,						For the Nine Months Ended September 30,
		2026			2025			2026			2025
	(in thousands, except per share amounts)
Numerator:
Net (loss) income - basic		$	(28,461	)	$	(50,568	)	$	297,608		$	(301,184	)
Add: interest expense, net of tax, on the Company's convertible debt			—			—			1,865	(1)		—
Net (loss) income - diluted		$	(28,461	)	$	(50,568	)	$	299,473		$	(301,184	)
Denominator:
Weighted-average common shares outstanding, basic			105,930			100,237			105,453			98,545
Effect of dilutive securities:
Common stock issuable under the Company's equity incentive plans			—			—			1,076			—
Common stock issuable under the Company's convertible debt			—			—			1,117	(1)		—
Weighted-average common shares outstanding, diluted			105,930			100,237			107,646			98,545
(Loss) earnings per common share, basic		$	(0.27	)	$	(0.50	)	$	2.82		$	(3.06	)
(Loss) earnings per common share, diluted		$	(0.27	)	$	(0.50	)	$	2.78		$	(3.06	)

Schedule of Potential Shares of Common Stock from the Computation of Diluted Earnings per Share

The following table summarizes potential shares of common stock that were excluded from the computation of diluted (loss) earnings per share as they were anti-dilutive:


	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2026			2025			2026			2025
	(in thousands)
Common stock issuable under the Company's equity incentive plans		13,124	(2)(4)		12,842	(3)(4)		11,191	(2)		12,842	(3)(4)
Common stock issuable under the Company's convertible debt		16,007			13,203			14,890	(1)		13,203
Total number of potentially issuable common stock		29,131			26,045			26,081			26,045

For the nine months ended September 30, 2026, the interest expense, net of tax, and potential share settlement of the 2030 Convertible Notes were excluded from diluted net income and diluted weighted-average common stock outstanding, respectively, as the inclusion of such shares was anti-dilutive during the period.

For the three and nine months ended September 30, 2026, the anti-dilutive common stock issuable under the Company's equity incentive plans excludes 0.4 million shares that have performance conditions that were not met as of the end of the period.

For the three and nine months ended September 30, 2025, the anti-dilutive common stock issuable under the Company's equity incentive plans excludes 0.3 million shares that have performance conditions that were not met as of the end of the period.

For the three months ended September 30, 2026 and the three and nine months ended September 30, 2025, all shares issued under the Company’s equity incentive plans were anti-dilutive as the Company was in a net loss position during these periods.