XML 33 R23.htm IDEA: XBRL DOCUMENT v3.24.3
NET INCOME PER SHARE
9 Months Ended
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,
2024202320242023
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 share616,428 611,276 616,830 606,767 
Diluted shares:
Stock options, restricted stock, and employee stock purchase plan4,224 — 6,481 — 
Convertible notes12,108 — 12,108 — 
Weighted-average shares used to compute diluted net income (loss) per share632,760 611,276 635,419 606,767 
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,
2024202320242023
Stock options, restricted stock, and employee stock purchase plan41,498 50,272 39,090 44,909 
Convertible notes— 12,109 — 15,034 
Common stock warrants12,109 23,188 12,109 23,188 
Total anti-dilutive securities53,607 85,569 51,199 83,131