Company: CORT
Filing Date: 2025-07-31
Form Type: 10-Q
Source: 0001628280-25-037005
Chunk: 43

Company: CORCEPT THERAPEUTICS INC
Filing Date: 2025-07-31
Form: 10-Q
Item: Part I, Item 8
Chunk 43
---
ed RSAs. We use the treasury stock method to determine the number of dilutive shares of common stock resulting from stock options and unvested RSUs.

15

The following table shows the computation of net income per share for each period:Three Months Ended June 30,Six Months Ended June 30, 2025202420252024 (in thousands, except per share amounts)Numerator:  Net income attributable to common stockholders$34,611 $35,120 $54,918 $62,640 Denominator:Weighted-average shares used to compute basic net income per common share104,111 103,118 104,108 102,954 Dilutive effect of employee stock options and unvested RSUs16,374 8,126 16,119 7,596 Weighted-average shares used to compute diluted net income per common share120,485 111,244 120,227 110,550 Net income per share attributable to common stockholdersBasic$0.33 $0.34 $0.53 $0.61 Diluted$0.29 $0.32 $0.46 $0.57 We excluded from the computation of diluted net income per share, on a weighted-average basis, 2.7 million and 2.0 million stock options outstanding during the three and six months ended June 30, 2025, respectively, and 9.5 million and 9.8 million stock options and unvested RSUs outstanding during the three and six months ended June 30, 2024, respectively, because including them would have reduced dilution.

8. Income Taxes

We recorded an income tax benefit of $3.5 million and $14.4 million for the three and six months ended June 30, 2025, respectively, as compared to an income tax expense of $6.1 million and $13.3 million for the comparable periods in 2024. The decreases in income tax expenses during the three and six months ended June 30, 2025 were primarily due to increased stock compensation deductions and decreases in year-to-date pretax income.Our effective tax rate differs from the federal statutory rate due to state income taxes and the non-deductible portion of our stock-based compensation, which increased our tax expense, offset by research and development credits and the excess tax deduction arising from the exercise of employee stock options,