Earnings Per Share

9 Months Ended

Sep. 30, 2021

Note 3—Earnings Per Share

The Company has two classes of common stock, Class A and Class B. Basic and diluted earnings per share (“EPS”) attributable to common stockholders for Class A and Class B common stock were the same because they were entitled to the same liquidation and dividend rights.

The computation of basic and diluted EPS after giving retroactive effect to the Stock Split is as follows (in thousands, except per share amounts):

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2021		2020		2021		2020
Numerator:
Net income	$	59,384	$	41,247	$	129,723	$	90,415
Denominator:
Weighted-average shares outstanding—basic		478,101		465,819		475,496		460,747
Effect of dilutive securities:
Options to purchase common stock		17,623		22,230		18,772		22,819
Employee stock purchase plan shares		278		454		533		815
Restricted stock		2,910		3,704		3,141		2,928
Weighted-average shares outstanding—diluted		498,912		492,207		497,942		487,309
Basic EPS	$	0.12	$	0.09	$	0.27	$	0.20
Diluted EPS	$	0.12	$	0.08	$	0.26	$	0.19
Anti-dilutive equity awards under stock-based award plans excluded from the determination of diluted EPS		1,439		1,880		1,439		1,880