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NET (LOSS) INCOME PER SHARE | 9 Months Ended
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Sep. 30, 2022
Earnings Per Share [Abstract] |
NET (LOSS) INCOME PER SHARE | NET (LOSS) INCOME PER SHARE The computation of net (loss) income per share is as follows (in thousands, except per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Basic net (loss) income per share: |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |
Net (loss) income | $ | (544,635) |  |  | $ | 406,100 |  |  | $ | (2,067,948) |  |  | $ | 2,783,912 |
Less: Income allocated to participating securities | — |  |  | (3,757) |  |  | — |  |  | (542,122) |
Net (loss) income attributable to common stockholders, basic | $ | (544,635) |  |  | $ | 402,343 |  |  | $ | (2,067,948) |  |  | $ | 2,241,790 |
Denominator |  |  |  |  |  |  |
Weighted-average shares of common stock used to compute net (loss) income per share attributable to common stockholders, basic | 223,916 |  |  | 209,604 |  |  | 220,816 |  |  | 165,045 |
Net (loss) income per share attributable to common stockholders, basic | $ | (2.43) |  |  | $ | 1.92 |  |  | $ | (9.37) |  |  | $ | 13.58 |
Diluted net (loss) income per share: |  |  |  |  |  |  |
Numerator |  |  |  |  |  |  |
Net (loss) income | $ | (544,635) |  |  | $ | 406,100 |  |  | $ | (2,067,948) |  |  | $ | 2,783,912 |
Less: Income allocated to participating securities | — |  |  | (3,167) |  |  | — |  |  | (448,463) |
Add: Interest on convertible notes, net of tax | — |  |  | 3,087 |  |  | — |  |  | 3,638 |
Less: Fair value gain on contingent consideration arrangement, net of tax | — |  |  | (680) |  |  | (5,395) |  |  | (680) |
Net (loss) income attributable to common stockholders, diluted | $ | (544,635) |  |  | $ | 405,340 |  |  | $ | (2,073,343) |  |  | $ | 2,338,407 |
Denominator |  |  |  |  |  |  |
Weighted-average shares of common stock used to compute net (loss) income per share attributable to common stockholders, basic | 223,916 |  |  | 209,604 |  |  | 220,816 |  |  | 165,045 |
Weighted-average effect of potentially dilutive securities: |  |  |  |  |  |  |
Stock options | — |  |  | 33,122 |  |  | — |  |  | 38,419 |
RSUs | — |  |  | 3,924 |  |  | — |  |  | 3,604 |
Restricted common stock | — |  |  | 5 |  |  | — |  |  | 3 |
Warrants | — |  |  | — |  |  | — |  |  | 97 |
Convertible notes | — |  |  | 3,880 |  |  | — |  |  | 1,883 |
Contingent consideration | — |  |  | 1 |  |  | 40 |  |  | 1 |
Weighted-average shares of common stock used to compute net (loss) income per share attributable to common stockholders, diluted | 223,916 |  |  | 250,536 |  |  | 220,856 |  |  | 209,052 |
Net (loss) income per share attributable to common stockholders, diluted | $ | (2.43) |  |  | $ | 1.62 |  |  | $ | (9.39) |  |  | $ | 11.19 |
Certain shares of restricted Class A common stock granted as consideration in acquisitions and the Company’s convertible preferred stock outstanding during 2021 are participating securities. These participating securities do not contractually require the holders of such shares to participate in the Company’s losses. The rights, including the liquidation and dividend rights, of the holders of Class A common stock and Class B common stock are identical, except with respect to voting. As a result, th e undistributed earnings are allocated on a proportionate basis and the resulting income (loss) per share will, therefore, be the same for both Class A common stock and Class B common stock on an individual or combined basis. The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive (in thousands):
| Three Months Ended September 30 |  | Nine Months Ended September 30
| 2022 |  | 2021 |  | 2022 |  | 2021
Stock options | 33,411 |  |  | 6,134 |  |  | 33,411 |  |  | 6,134 |
RSUs | 6,854 |  |  | 107 |  |  | 6,854 |  |  | 107 |
Convertible notes | 3,880 |  |  | — |  |  | 3,880 |  |  | — |
Restricted common stock | 1,740 |  |  | 65 |  |  | 1,740 |  |  | 65 |
ESPP | 1,030 |  |  | 284 |  |  | 1,030 |  |  | 284 |
Contingent consideration | 76 |  |  | — |  |  | — |  |  | — |
Total | 46,991 |  |  | 6,590 |  |  | 46,915 |  |  | 6,590 |

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