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Net Income (Loss) Per Share
6 Months Ended
Jun. 30, 2024
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share Net Income (Loss) Per Share
We present net income (loss) per share 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.
We calculate basic net income (loss) per share by dividing net income (loss) by the weighted-average number of shares of common stock outstanding during the period.
Diluted net income (loss) per share gives effect to all potential shares of common stock, including stock options, RSAs and RSUs, to the extent these are dilutive. The calculation of diluted net income (loss) of Class A common stock assumes the conversion of our Class B common stock to Class A common stock, while the diluted net income (loss) of Class B common stock does not assume the conversion of those shares to Class A common stock.
We calculated basic and diluted net income (loss) per share as follows (in thousands, except per share amounts):
Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Class AClass BClass AClass BClass AClass BClass AClass B
Basic net income (loss) per share:
Numerator:
Net income (loss)$7,805 $1,082 $(30,314)$(4,628)$(13,965)$(1,960)$(211,427)$(32,094)
Denominator:
Weighted-average shares used in computing net income (loss) per share, basic
600,033 83,138 584,978 89,302 597,193 83,802 588,382 89,314 
Basic net income (loss) per share
$0.01 $0.01 $(0.05)$(0.05)$(0.02)$(0.02)$(0.36)$(0.36)
Diluted net income (loss) per share:
Numerator:
Net income (loss)$7,805 $1,082 $(30,314)$(4,628)$(13,965)$(1,960)$(211,427)$(32,094)
Reallocation of net income as a result of conversion of Class B to Class A common stock 1,082 — — — — — — — 
Reallocation of net income to Class B common stock — (38)— — — — — — 
Diluted net income (loss)
$8,887 $1,044 $(30,314)$(4,628)$(13,965)$(1,960)$(211,427)$(32,094)
Denominator
Weighted-average shares used in computing net income (loss) per share, basic
600,033 83,138 584,978 89,302 597,193 83,802 588,382 89,314 
Conversion of Class B to Class A common stock83,138 — — — — — — — 
Weighted average effect of dilutive potential common stock 25,087 — — — — — — — 
Weighted-average shares used in computing net income (loss) per share, diluted
708,258 83,138 584,978 89,302 597,193 83,802 588,382 89,314 
Diluted net income (loss) per share
$0.01 $0.01 $(0.05)$(0.05)$(0.02)$(0.02)$(0.36)$(0.36)
Basic net income (loss) per share is the same as diluted net income (loss) per share for the periods we reported net losses. We excluded the following weighted-average potential shares of common stock from our calculation of diluted net income (loss) per share because these would be anti-dilutive (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2024202320242023
Outstanding stock options— 14,723 11,884 14,973 
Unvested restricted stock units and restricted stock awards1,623 50,521 46,963 52,085 
Total1,623 65,244 58,847 67,058