v3.19.3
NET INCOME (LOSS) PER SHARE
 9 Months Ended
Sep. 30, 2019
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER SHARE NET INCOME (LOSS) PER SHARE
Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding adjusted for the dilutive effect of all potential shares of common stock. In periods when the Company reported a net loss, diluted net loss per share is the same as basic net loss per share because the effects of potentially dilutive items were anti-dilutive.
The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except per share data):
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
2019
 
2018
 
2019
 
2018
Numerator:
 
 
 
 
 
 
 
Net income (loss)
$
29,397

 
$
19,643

 
$
(15,494
)
 
$
(10,249
)
Denominator:
 
 
 
 
 
 
 
Basic shares:
 
 
 
 
 
 
 
Weighted-average common shares outstanding
427,906

 
410,095
 
423,957

 
403,577
Weighted-average unvested shares
(782
)
 
(405
)
 
(718
)
 
(597
)
Weighted-average shares used to compute basic net loss per share
427,124

 
409,690

 
423,239

 
402,980
Diluted shares:
 
 
 
 
 
 
 
Stock options and restricted stock units
28,549

 
47,175

 
—

 
—

Convertible senior notes
—

 
6,409

 
—

 
—

Common stock warrants
10,372

 
11,422

 
—

 
—

Employee stock purchase plan
54

 
219

 
—

 
—

Weighted-average shares used to compute diluted net income (loss) per share
466,099

 
474,915

 
423,239

 
402,980
Net income (loss) per share:
 
 
 
 
 
 
 
Basic
$
0.07

 
$
0.05

 
$
(0.04
)
 
$
(0.03
)
Diluted
$
0.06

 
$
0.04

 
$
(0.04
)
 
$
(0.03
)


Additionally, since the Company intends to settle future conversions of its outstanding 2022 Notes and 2023 Notes entirely in shares of its Class A common stock, the Company will consider the number of shares expected to be issued in calculating any potential dilutive effect of the conversions, if applicable.

The following potential common shares were excluded from the calculation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented (in thousands):

 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
2019
 
2018
 
2019
 
2018
Stock options and restricted stock units
15,113

 
12,079

 
46,045

 
62,822

Common stock warrants
19,880

 
18,830

 
30,252

 
24,387

Convertible senior notes
20,305

 
23,415

 
20,305

 
24,276

Unvested shares
782

 
405

 
718

 
597

Employee stock purchase plan
189

 
26

 
217

 
207

Total anti-dilutive securities
56,269

 
54,755

 
97,537

 
112,289