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Net Income per Share | 6 Months Ended
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Jun. 30, 2026
Earnings Per Share [Abstract] |
Net Income per Share | 4. Net Income per Share We compute net income per share of Class A and Class B common stock using the two-class method required for multiple classes of common stock. Holders of our Class A and Class B common stock have identical rights except with respect to voting, conversion, and transfer rights, and therefore share equally in our net income or losses. The following table presents the calculation of basic and diluted net income per share attributable to common stock:
| Three months ended June 30, |  |  |  | Six months ended June 30, |
| 2026 |  | 2025 |  |  |  | 2026 |  | 2025 |
| Class A |  | Class B |  | Class A |  | Class B |  |  |  | Class A |  | Class B |  | Class A |  | Class B |  |
| (in thousands, except share and per share data)
Basic net income per share attributable to common stockholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to common stockholders | $ | 189,468 |  |  | $ | 63,380 |  |  | $ | 62,806 |  |  | $ | 26,491 |  |  |  |  | $ | 338,468 |  |  | $ | 118,361 |  |  | $ | 80,803 |  |  | $ | 34,652 |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted-average common shares outstanding | 144,131,494 |  | 48,214,190 |  | 130,426,589 |  | 55,011,188 |  |  |  | 142,204,102 |  | 49,728,227 |  | 128,586,761 |  | 55,144,231 |  |
Basic income per share attributable to common stockholders | $ | 1.31 |  |  | $ | 1.31 |  |  | $ | 0.48 |  |  | $ | 0.48 |  |  |  |  | $ | 2.38 |  |  | $ | 2.38 |  |  | $ | 0.63 |  |  | $ | 0.63 |  |  |
Diluted net income per share attributable to common stockholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net income attributable to common stockholders | $ | 192,506 |  |  | $ | 60,342 |  |  | $ | 64,676 |  |  | $ | 24,621 |  |  |  |  | $ | 344,549 |  |  | $ | 112,280 |  |  | $ | 83,730 |  |  | $ | 31,725 |  |  |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted-average common shares outstanding | 144,131,494 |  | 48,214,190 |  | 130,426,589 |  | 55,011,188 |  |  |  | 142,204,102 |  | 49,728,227 |  | 128,586,761 |  | 55,144,231 |  |
Weighted-average effect of dilutive potential common stock | 9,684,037 |  | — |  | 14,084,656 |  | — |  |  |  | 10,394,535 |  | — |  | 16,950,466 |  | — |  |
Shares used in computation of diluted net income per share attributable to common stockholders | 153,815,531 |  | 48,214,190 |  | 144,511,245 |  | 55,011,188 |  |  |  | 152,598,637 |  | 49,728,227 |  | 145,537,227 |  | 55,144,231 |  |
Diluted net income per share attributable to common stockholders | $ | 1.25 |  |  | $ | 1.25 |  |  | $ | 0.45 |  |  | $ | 0.45 |  |  |  |  | $ | 2.26 |  |  | $ | 2.26 |  |  | $ | 0.58 |  |  | $ | 0.58 |  |  |
The following outstanding potentially dilutive shares were excluded from the computation of diluted net income per share attributable to common stock for the periods presented because the impact of including them would have been anti-dilutive.
| Three months ended June 30, |  | Six months ended June 30,
| 2026 |  | 2025 |  | 2026 |  | 2025
| Class A |  | Class B |  | Class A |  | Class B |  | Class A |  | Class B |  | Class A |  | Class B
Unvested RSUs and RSAs | 13,539 |  | — |  | 433,058 |  | — |  | 13,712 |  | — |  | 126,137 |  | —
Total | 13,539 |  | — |  | 433,058 |  | — |  | 13,712 |  | — |  | 126,137 |  | —

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