NET LOSS PER SHARE

9 Months Ended

Sep. 30, 2023

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


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Basic net loss per share:
Numerator
Net loss	$	(2,265)	$	(544,635)	$	(178,566)	$	(2,067,948)


Net loss attributable to common stockholders, basic	$	(2,265)	$	(544,635)	$	(178,566)	$	(2,067,948)

Denominator
Weighted-average shares of common stock used to compute net loss per share attributable to common stockholders, basic	237,270		223,916		234,479		220,816
Net loss per share attributable to common stockholders, basic	$	(0.01)	$	(2.43)	$	(0.76)	$	(9.37)

Diluted net loss per share:
Numerator
Net loss	$	(2,265)	$	(544,635)	$	(178,566)	$	(2,067,948)


Less: Fair value gain on contingent consideration arrangement, net of tax	—		—		—		(5,395)
Net loss attributable to common stockholders, diluted	$	(2,265)	$	(544,635)	$	(178,566)	$	(2,073,343)

Denominator
Weighted-average shares of common stock used to compute net loss per share attributable to common stockholders, basic	237,270		223,916		234,479		220,816
Weighted-average effect of potentially dilutive securities:






Contingent consideration	—		—		—		40
Weighted-average shares of common stock used to compute net loss per share attributable to common stockholders, diluted	237,270		223,916		234,479		220,856

Net income loss per share attributable to common stockholders, diluted	$	(0.01)	$	(2.43)	$	(0.76)	$	(9.39)

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 September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022
Stock options	29,941	33,411	29,941	33,411
RSUs	5,596	6,854	5,596	6,854
Convertible notes	3,706	3,880	3,706	3,880
ESPP	925	1,030	925	1,030
Restricted common stock	797	1,740	797	1,740
PRSUs	804	—	804	—
Contingent consideration	—	76	—	—
Total	41,769	46,991	41,769	46,915