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NET INCOME PER SHARE | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
NET INCOME PER SHARE | NET INCOME PER SHARE The Company computes net income (loss) per share attributable to our common stockholders using the two-class method required for multiple classes of common stock and participating securities. The holders of our Class A and Class B common stock (together, "common stock") have identical liquidation and dividend rights but different voting rights. Accordingly, we present net income (loss) per share for Class A and Class B common stock together. 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 September 30, |  | Nine Months Ended September 30,
2024 |  | 2023 |  | 2024 |  | 2023
Numerator: |  |  |  |  |  |  |
Net income (loss) | $ | 281,136 |  |  | $ | (93,544) |  |  | $ | 941,828 |  |  | $ | (103,094) |
Less: Net loss attributable to noncontrolling interests | (2,618) |  |  | (4,806) |  |  | (9,199) |  |  | (10,630) |
Net income (loss) attributable to common stockholders | $ | 283,754 |  |  | $ | (88,738) |  |  | $ | 951,027 |  |  | $ | (92,464) |
Denominator: |  |  |  |  |  |  |
Basic shares: |  |  |  |  |  |  |
Weighted-average shares used to compute basic net income (loss) per share | 616,428 |  |  | 611,276 |  |  | 616,830 |  |  | 606,767 |
Diluted shares: |  |  |  |  |  |  |
Stock options, restricted stock, and employee stock purchase plan | 4,224 |  |  | — |  |  | 6,481 |  |  | — |
Convertible notes | 12,108 |  |  | — |  |  | 12,108 |  |  | — |
Weighted-average shares used to compute diluted net income (loss) per share | 632,760 |  |  | 611,276 |  |  | 635,419 |  |  | 606,767 |
Basic | $ | 0.46 |  |  | $ | (0.15) |  |  | $ | 1.54 |  |  | $ | (0.15) |
Diluted | $ | 0.45 |  |  | $ | (0.15) |  |  | $ | 1.50 |  |  | $ | (0.15) |
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,
| 2024 |  | 2023 |  | 2024 |  | 2023
Stock options, restricted stock, and employee stock purchase plan | 41,498 |  |  | 50,272 |  |  | 39,090 |  |  | 44,909 |
Convertible notes | — |  |  | 12,109 |  |  | — |  |  | 15,034 |
Common stock warrants | 12,109 |  |  | 23,188 |  |  | 12,109 |  |  | 23,188 |
Total anti-dilutive securities | 53,607 |  |  | 85,569 |  |  | 51,199 |  |  | 83,131 |

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