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Net Income per Share Attributable to Common Stockholders (Tables) | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share, Basic and Diluted | The computation of basic and diluted net income per share attributable to common stockholders was as follows:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2024 |  | 2023 |  | 2024
| (in millions, except share amounts, which are reflected in thousands, and per share amounts)
Numerator: |  |  |  |  |  |  |
Net income | $ | (1,999) |  |  | $ | 118 |  |  | $ | (1,757) |  |  | $ | 309 |
Less: Accretion related to Series A redeemable convertible preferred stock | — |  |  | (2) |  |  | — |  |  | (7) |
Net income attributable to common stockholders, basic | $ | (1,999) |  |  | $ | 116 |  |  | $ | (1,757) |  |  | $ | 302 |
Add: Accretion related to Series A redeemable convertible preferred stock | — |  |  | 2 |  |  | — |  |  | — |
Net income attributable to common stockholders, diluted | $ | (1,999) |  |  | $ | 118 |  |  | $ | (1,757) |  |  | $ | 302 |
Denominator: |  |  |  |  |  |  |
Weighted-average shares used in computing basic net income per share attributable to common stockholders | 95,836 |  |  | 259,660 |  |  | 80,180 |  |  | 266,550 |
Weighted-average effect of dilutive securities: |  |  |  |  |  |  |
Series A redeemable convertible preferred stock | — |  |  | 5,833 |  |  | — |  |  | — |
Stock options | — |  |  | 5,629 |  |  | — |  |  | 8,054 |
Restricted stock units | — |  |  | 9,881 |  |  | — |  |  | 11,097 |
Unvested restricted non-voting common stock | — |  |  | — |  |  | — |  |  | — |
Weighted-average shares used in computing diluted net income per share attributable to common stockholders | 95,836 |  |  | 281,003 |  |  | 80,180 |  |  | 285,701 |
Net income per share attributable to common stockholders: |  |  |  |  |  |  |
Basic | $ | (20.86) |  |  | $ | 0.45 |  |  | $ | (21.92) |  |  | $ | 1.13 |
Diluted | $ | (20.86) |  |  | $ | 0.42 |  |  | $ | (21.92) |  |  | $ | 1.06 |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | The following potentially dilutive outstanding securities were excluded from the computation of diluted income per share attributable to common stockholders because their effect was not dilutive:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2024 |  | 2023 |  | 2024
| (in thousands)
Series A redeemable convertible preferred stock | 5,833 |  | — |  | 5,833 |  | 5,833
Stock options | 19,996 |  | 384 |  | 19,996 |  | 428
Restricted stock units | 28,559 |  | 5,811 |  | 28,559 |  | 2,470
Unvested restricted non-voting common stock | 375 |  | 74 |  | 375 |  | 74
Total | 54,763 |  | 6,269 |  | 54,763 |  | 8,805
The following potentially dilutive outstanding securities were excluded from the table above because they are subject to performance-based and / or market-based vesting conditions that were not achieved as of those dates:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2024 |  | 2023 |  | 2024
| (in thousands)
Restricted stock units | 2,158 |  | 1,319 |  | 2,158 |  | 1,319
Total | 2,158 |  | 1,319 |  | 2,158 |  | 1,319

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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