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NET INCOME (LOSS) PER SHARE | 12 Months Ended
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Dec. 31, 2025
Earnings Per Share [Abstract] |
NET INCOME PER SHARE | NET INCOME (LOSS) 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 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):
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Basic net income per share: |  |  |  |  |
Numerator |  |  |  |  |
Net income attributable to common stockholders | $ | 1,305,636 |  |  | $ | 2,897,047 |  |  | $ | 9,772 |
Denominator |  |  |  |  |
Shares used to compute basic net income per share | 612,243 |  |  | 616,993 |  |  | 608,856 |
Basic net income per share | $ | 2.13 |  |  | $ | 4.70 |  |  | $ | 0.02 |
Diluted net income per share: |  |  |  |  |
Numerator |  |  |  |  |
Net income attributable to common stockholders | $ | 1,305,636 |  |  | $ | 2,897,047 |  |  | $ | 9,772 |
Interest expense on convertible notes | 4,016 |  |  | 6,216 |  |  | — |
Net income used to compute diluted net income (loss) per share | $ | 1,309,652 |  |  | $ | 2,903,263 |  |  | $ | 9,772 |
Denominator |  |  |  |  |
Shares used to compute basic net income per share | 612,243 |  |  | 616,993 |  |  | 608,856 |
Stock options, restricted stock, and employee stock purchase plan | 5,392 |  |  | 7,289 |  |  | 5,168 |
Convertible notes | 5,203 |  |  | 12,108 |  |  | — |
Shares used to compute diluted net income per share | 622,838 |  |  | 636,390 |  |  | 614,024 |
Diluted net income per share | $ | 2.10 |  |  | $ | 4.56 |  |  | $ | 0.02 |
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):
| Year Ended December 31,
| 2025 |  | 2024 |  | 2023
Stock options, restricted stock, and employee stock purchase plan | 36,268 |  |  | 37,687 |  |  | 40,431 |
Convertible notes | — |  |  | — |  |  | 14,297 |
Common stock warrants | 8,248 |  |  | 12,108 |  |  | 20,243 |
Total anti-dilutive securities | 44,516 |  |  | 49,795 |  |  | 74,971 |

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