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NET INCOME PER SHARE | 6 Months Ended
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Jun. 30, 2024
Earnings Per Share [Abstract] |
NET INCOME PER SHARE | NET INCOME PER SHARE Basic net income (loss) per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) 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 June 30, |  | Six Months Ended June 30,
2024 |  | 2023 |  | 2024 |  | 2023
Numerator: |  |  |  |  |  |  |
Net income (loss) | $ | 189,872 |  |  | $ | (105,378) |  |  | $ | 660,692 |  |  | $ | (9,550) |
Less: Net loss attributable to noncontrolling interests | (5,396) |  |  | (3,336) |  |  | (6,581) |  |  | (5,824) |
Net income (loss) attributable to common stockholders | $ | 195,268 |  |  | $ | (102,042) |  |  | $ | 667,273 |  |  | $ | (3,726) |
Denominator: |  |  |  |  |  |  |
Basic shares: |  |  |  |  |  |  |
Weighted-average shares used to compute basic net income (loss) per share | 617,666 |  |  | 606,692 |  |  | 617,033 |  |  | 604,476 |
Diluted shares: |  |  |  |  |  |  |
Stock options, restricted stock, and employee stock purchase plan | 6,369 |  |  | — |  |  | 7,610 |  |  | — |
Convertible notes | 10,186 |  |  | — |  |  | 12,108 |  |  | — |
Weighted-average shares used to compute diluted net income (loss) per share | 634,221 |  |  | 606,692 |  |  | 636,751 |  |  | 604,476 |
Basic | $ | 0.32 |  |  | $ | (0.17) |  |  | $ | 1.08 |  |  | $ | (0.01) |
Diluted | $ | 0.31 |  |  | $ | (0.17) |  |  | $ | 1.05 |  |  | $ | (0.01) |
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 June 30, |  | Six Months Ended June 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Stock options, restricted stock, and employee stock purchase plan | 40,759 |  |  | 47,477 |  |  | 37,883 |  |  | 42,180 |
Convertible notes | 1,923 |  |  | 15,034 |  |  | — |  |  | 16,522 |
Common stock warrants | 12,243 |  |  | 23,188 |  |  | 12,109 |  |  | 23,188 |
Total anti-dilutive securities | 54,925 |  |  | 85,699 |  |  | 49,992 |  |  | 81,890 |

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