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NET INCOME PER SHARE
6 Months Ended
Jun. 30, 2025
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 income (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 per share (in thousands, except per share data):
Three Months Ended
June 30,
Six Months Ended
June 30,
2025202420252024
Basic net income per share:
Numerator
Net income attributable to common stockholders$538,458 $195,268 $728,330 $667,273 
Denominator
Shares used to compute basic net income per share612,882 617,666 616,108 617,033 
Basic net income per share$0.88 $0.32 $1.18 $1.08 
Diluted net income per share:
Numerator
Net income attributable to common stockholders$538,458 $195,268 $728,330 $667,273 
Interest expense on convertible notes823 — 2,409 — 
Net income used to compute diluted net income per share$539,281 $195,268 $730,739 $667,273 
Denominator
Shares used to compute basic net income per share612,882 617,666 616,108 617,033 
Stock options, restricted stock, and employee stock purchase plan2,202 6,369 4,412 7,610 
Convertible notes3,844 10,186 6,583 12,108 
Shares used to compute diluted net income per share618,928 634,221 627,103 636,751 
Diluted net income per share$0.87 $0.31 $1.17 $1.05 

The following potential common shares were excluded from the calculation of diluted net income 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,
2025202420252024
Stock options, restricted stock, and employee stock purchase plan41,593 40,759 37,385 37,883 
Convertible notes— 1,923 — — 
Common stock warrants11,626 12,243 11,866 12,109 
Total anti-dilutive securities53,219 54,925 49,251 49,992