XML 29 R19.htm IDEA: XBRL DOCUMENT v3.25.2
Net Income (Loss) Per Share Attributable to Common Stockholders
 6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share Attributable to Common Stockholders 12. Net Income (Loss) Per Share Attributable to Common Stockholders
Basic net income (loss) per share attributable to common stockholders is computed by dividing the net income (loss) by the weighted-average number of shares of common stock outstanding during the period. The diluted net income (loss) per share attributable to common stockholders is computed by giving effect to all potentially dilutive common stock equivalents outstanding for the period. For diluted net income (loss) per share attributable to common stockholders, the dilutive effect of outstanding awards is reflected by application of the treasury stock method and convertible securities by application of the if-converted method, as applicable. For purposes of this calculation, stock options, RSUs, PSUs, the 2029 Notes, the 2025 Notes, and stock purchase rights granted under the Company’s ESPP are considered to be common stock equivalents but are excluded from the calculation of diluted net income (loss) per share attributable to common stockholders when including them has an anti-dilutive effect. Basic and diluted net income (loss) per share attributable to common stockholders are the same for each class of common stock because they are entitled to the same liquidation and dividend rights.
The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders for the periods indicated (in thousands, except per share data):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Numerator
Net income (loss) attributable to common stockholders, basic and diluted$40,314 $5,014 $42,881 $(26,521)
Denominator
Weighted-average shares used in computing basic net income (loss) per share attributable to common stockholders417,242 406,512 418,793 404,033 
Effect of potentially dilutive common stock equivalents5,711 5,457 5,344 — 
Weighted-average shares used in computing diluted net income (loss) per share attributable to common stockholders422,953 411,969 424,137 404,033 
Basic net income (loss) per share attributable to common stockholders$0.10 $0.01 $0.10 $(0.07)
Diluted net income (loss) per share attributable to common stockholders$0.10 $0.01 $0.10 $(0.07)
The following potentially dilutive outstanding shares were excluded from the computation of diluted net income (loss) per share attributable to common stockholders for the periods presented because including them would have had an anti-dilutive effect, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
Restricted stock units1,296 13,712 1,296 19,032 
2025 Notes(1)(2)
— 10,178 — 10,178 
2029 Notes(1)(3)
21,821 21,821 21,821 21,821 
Performance based restricted stock units14,956 13,709 14,956 14,829 
ESPP1,416 1,269 1,416 1,332 
Stock options— — — 442 
Total39,489 60,689 39,489 67,634 
_______________
(1)In connection with the issuance of the Notes, the Company entered into the Capped Calls, which were not included for purposes of calculating the number of diluted shares outstanding, as their effect would have been anti-dilutive. Refer to Note 9 “Debt” to the condensed consolidated financial statements for further information.
(2)The 2025 Capped Calls were expected to reduce the potential dilution to the Company's Class A common stock (or, in the event a conversion of the 2025 Notes was settled in cash, to reduce the cash payment obligation) in the event that at the time of conversion of the 2025 Notes the Company's Class A common stock price exceeded the conversion price of the 2025 Notes. Refer to Note 9 “Debt” to the condensed consolidated financial statements for further information.
(3)The 2029 Capped Calls are expected to reduce the potential dilution to the Company's Class A common stock (or, in the event a conversion of the 2029 Notes are settled in cash, to reduce the cash payment obligation) in the event that at the time of conversion of the 2029 Notes the Company's Class A common stock price exceeds the conversion price of the 2029 Notes. Refer to Note 9 “Debt” to the condensed consolidated financial statements for further information.