Net Income Per Share Attributable to Common Stockholders

9 Months Ended

Dec. 31, 2021

Net Income Per Share Attributable to Common Stockholders

The following table presents the reconciliation of the numerator and denominator for calculating basic and diluted net income per share (in thousands, except per share data):


	Three Months Ended December 31,				Nine Months Ended December 31,
	2021		2020		2021		2020
Numerator
Net income	$	55,647	$	17,231	$	118,057	$	28,727
Less: undistributed earnings attributable to participating securities	—		(11,831)		(21,866)		(17,907)
Net income attributable to Class A and Class B common stockholders, basic and diluted	$	55,647	$	5,400	$	96,191	$	10,820
Denominator
Weighted-average shares used in computing net income per share attributable to Class A and Class B common stockholders, basic	188,372		77,766		154,289		72,590
Dilutive effect of assumed exercise of options to purchase common stock	27,762		21,946		28,377		19,568

Dilutive effect of assumed exercise of common stock warrants	247		211		230		128
Dilutive effect of restricted stock units	13		—		8		—
Dilutive effect of ESPP	2		—		1		—
Weighted-average shares used in computing net income per share attributable to Class A and Class B common stockholders, diluted	216,396		99,923		182,905		92,286
Net income per share attributable to Class A and Class B common stockholders, basic	$	0.30	$	0.07	$	0.62	$	0.15
Net income per share attributable to Class A and Class B common stockholders, diluted	$	0.26	$	0.05	$	0.53	$	0.12

Certain potentially dilutive securities have been excluded from the calculation of diluted net income per share during the applicable periods because their inclusion would have been anti-dilutive (in thousands):


	Three Months Ended December 31,		Nine Months Ended December 31,
	2021	2020	2021	2020
Redeemable convertible preferred stock	—	76,287	—	76,287

Stock options	—	387	—	2,083
RSUs	254	—	118	—

Common stock warrants	477	—	159	—
Total	731	76,674	277	78,370