Company: CORT
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001628280-25-048841
Chunk: 16

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 $44,781 

15

7. Net Income Per Share

We compute our basic and diluted net income per share in conformity with the two-class method required for companies with participating shares. Under the two-class method, net income is determined by allocating net income between common stock and unvested RSAs. We compute basic net income per share by dividing our net income attributable to common stockholders by the weighted-average number of common shares outstanding during the period. We compute diluted net income per share by dividing our net income attributable to common stockholders by the weighted-average number of common shares outstanding during the period, including potentially dilutive stock options and unvested RSUs, less unvested RSAs. We use the treasury stock method to determine the number of dilutive shares of common stock resulting from stock options and unvested RSUs.The following table shows the computation of net income per share for each period:Three Months Ended September 30,Nine Months Ended September 30, 2025202420252024 (in thousands, except per share amounts)Numerator:  Net income attributable to common stockholders$19,359 $46,690 $74,267 $109,344 Denominator:Weighted-average shares used to compute basic net income per common share103,545 103,371 103,919 103,094 Dilutive effect of employee stock options and unvested RSUs15,894 10,352 16,062 8,477 Weighted-average shares used to compute diluted net income per common share119,439 113,723 119,981 111,571 Net income per share attributable to common stockholdersBasic$0.19 $0.45 $0.71 $1.06 Diluted$0.16 $0.41 $0.62 $0.98 We excluded from the computation of diluted net income per share, on a weighted-average basis, 2.8 million and 2.3 million stock options outstanding during the three and nine months ended September 30, 2025, respectively, and 1.0 million and 8.6 million stock options outstanding during the three and nine months ended September 30, 2024, respectively, because including them would have reduced dilution.

8. Income Taxes

We recorded an income tax benefit of $4.4 million and $18.8 million for the three and nine months ended