NET LOSS PER SHARE

6 Months Ended

Jun. 30, 2023

The computation of net loss per share is as follows (in thousands, except per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Basic net loss per share:
Numerator
Net loss	$	(97,405)	$	(1,093,654)	$	(176,301)	$	(1,523,313)


Net loss attributable to common stockholders, basic	$	(97,405)	$	(1,093,654)	$	(176,301)	$	(1,523,313)

Denominator
Weighted-average shares of common stock used to compute net loss per share attributable to common stockholders, basic	234,614		220,988		233,060		219,240
Net loss per share attributable to common stockholders, basic	$	(0.42)	$	(4.95)	$	(0.76)	$	(6.95)

Diluted net loss per share:
Numerator
Net loss	$	(97,405)	$	(1,093,654)	$	(176,301)	$	(1,523,313)


Less: Fair value gain on contingent consideration arrangement, net of tax	(196)		(6,184)		(196)		(6,184)
Net loss attributable to common stockholders, diluted	$	(97,601)	$	(1,099,838)	$	(176,497)	$	(1,529,497)

Denominator
Weighted-average shares of common stock used to compute net loss per share attributable to common stockholders, basic	234,614		220,988		233,060		219,240







Contingent consideration	27		46		27		46
Weighted-average shares of common stock used to compute net loss per share attributable to common stockholders, diluted	234,641		221,034		233,087		219,286

Net loss per share attributable to common stockholders, diluted	$	(0.42)	$	(4.98)	$	(0.76)	$	(6.97)

Certain shares of the Company’s restricted Class A common stock granted as consideration in acquisitions 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, the 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 June 30,		Six Months Ended June 30,
	2023	2022	2023	2022
Stock options	30,694	34,407	30,694	34,407
RSUs	8,954	8,330	8,954	8,330
Convertible notes	3,706	3,880	3,706	3,880
Restricted common stock	985	1,998	985	1,998
ESPP	988	1,596	988	1,596

Total	45,327	50,211	45,327	50,211