| EARNINGS (LOSS) PER SHARE |
NOTE 22: EARNINGS (LOSS) PER SHARE
The following table presents the computation of basic and diluted earnings (loss) per share (“EPS”):
| |
|
Three Months Ended
June 30,
|
|
|
Six Months Ended
June 30,
|
|
| |
|
2024
|
|
|
2023
|
|
|
2024
|
|
|
2023
|
|
|
Basic EPS:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
$
|
(130,818
|
)
|
|
$
|
119,510
|
|
|
$
|
(288,129
|
)
|
|
$
|
257,888
|
|
|
Denominator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in computing net earnings (loss) per share of common stock, basic
|
|
|
56,687,006
|
|
|
|
56,415,636
|
|
|
|
56,913,569
|
|
|
|
56,316,116
|
|
|
Diluted EPS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) attributable to common stock, basic
|
|
$
|
(130,818
|
)
|
|
$
|
119,510
|
|
|
$
|
(288,129
|
)
|
|
$
|
257,888
|
|
|
Notes due 2025
|
|
|
-
|
|
|
|
536
|
|
|
|
-
|
|
|
|
1,072
|
|
|
Net income (loss) attributable to common stock, diluted
|
|
$
|
(130,818
|
)
|
|
$
|
120,046
|
|
|
$
|
(288,129
|
)
|
|
$
|
258,960
|
|
|
Denominator:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares used in computing net earnings (loss) per share of common stock, basic
|
|
|
56,687,006
|
|
|
|
56,415,636
|
|
|
|
56,913,569
|
|
|
|
56,316,116
|
|
|
Notes due 2025
|
|
|
-
|
|
|
|
2,276,818
|
|
|
|
-
|
|
|
|
2,276,818
|
|
|
Effect of stock-based awards
|
|
|
-
|
|
|
|
491,212
|
|
|
|
-
|
|
|
|
596,368
|
|
|
Shares used in computing net earnings (loss) per share of common stock, diluted
|
|
|
56,687,006
|
|
|
|
59,183,666
|
|
|
|
56,913,569
|
|
|
|
59,189,302
|
|
|
Earnings (loss) per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$
|
(2.31
|
)
|
|
$
|
2.12
|
|
|
$
|
(5.06
|
)
|
|
$
|
4.58
|
|
|
Diluted
|
|
$
|
(2.31
|
)
|
|
$
|
2.03
|
|
|
$
|
(5.06
|
)
|
|
$
|
4.38
|
|
The following outstanding shares of common stock equivalents were excluded from the calculation due to their antidilutive nature:
| |
|
Three Months Ended June 30,
|
|
|
Six Months Ended June 30,
|
|
| |
|
2024
|
|
|
2023
|
|
|
2024
|
|
|
2023
|
|
|
Stock-based awards
|
|
|
1,786,999
|
|
|
|
211,635
|
|
|
|
1,807,014
|
|
|
|
201,987
|
|
|
Notes 2025
|
|
|
2,254,270
|
|
|
|
-
|
|
|
|
2,265,544
|
|
|
|
-
|
|
|
Notes 20291
|
|
|
192,116
|
|
|
|
-
|
|
|
|
96,058
|
|
|
|
-
|
|
|
Total shares excluded
|
|
|
4,233,385
|
|
|
|
211,635
|
|
|
|
4,168,616
|
|
|
|
201,987
|
|
1 In conjunction with the issuance of the Notes 2029 in June 2024, the Company used approximately $25.2 million of the net proceeds from this offering to pay the cost of the capped call transactions. In accordance with FASB ASC 260, antidilutive contracts, such as purchased put options and purchased call options are excluded from the computation of diluted net income (loss) per share. Accordingly, any potential impact resulting from capped call transaction is excluded from our computation of diluted net income (loss) per share.
|