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NET INCOME (LOSS) PER SHARE | 6 Months Ended
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Jun. 30, 2023
Earnings Per Share [Abstract] |
NET INCOME (LOSS) PER SHARE | NET INCOME (LOSS) PER SHARE Basic net income (loss) per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed based on the weighted average number of common shares outstanding plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. During the periods when there is a net loss, potentially dilutive common stock equivalents have been excluded from the calculation of diluted net loss per share as their effect is anti-dilutive. No dividends were declared or paid for the three and six months ended June 30, 2023 or 2022. The Company uses the two-class method to calculate net income (loss) per share and apply the more dilutive of the two-class method, treasury stock method or if-converted method to calculate diluted net income (loss) per share. Undistributed earnings for each period are allocated to participating securities, based on the contractual participation rights of the security to share in the current earnings as if all current period earnings had been distributed. As there is no contractual obligation for participating securities to share in losses, the Company’s basic net income (loss) per share is computed by dividing the net income (loss) attributable to common shareholders by the weighted-average shares of common stock outstanding during periods with undistributed losses. The following table sets forth the computation of the Company’s basic and diluted net income (loss) per share attributable to common shareholders for the three and six months ended June 30, 2023 and 2022 (in millions, except share amounts which are presented in thousands, and per share amounts):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Basic and diluted net income (loss) per share: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income (loss) attributable to common shareholders – basic | $ | 23 |  |  | $ | (54) |  |  | $ | (78) |  |  | $ | (26) |
Denominator: |  |  |  |  |  |  |
Weighted average shares outstanding – basic | 646,062 |  |  | 624,958 |  |  | 646,750 |  |  | 622,064 |
Basic net income (loss) per share | $ | 0.04 |  |  | $ | (0.09) |  |  | $ | (0.12) |  |  | $ | (0.04) |
Diluted net income (loss) per share: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income (loss) attributable to common shareholders – diluted | $ | 23 |  |  | $ | (54) |  |  | $ | (78) |  |  | $ | (26) |
Denominator: |  |  |  |  |  |  |
Weighted average shares outstanding – basic | 646,062 |  |  | 624,958 |  |  | 646,750 |  |  | 622,064 |
Plus: Dilutive effect of employee stock-based awards | 21,097 |  |  | — |  |  | — |  |  | — |
Weighted average shares outstanding - diluted | 667,159 |  |  | 624,958 |  |  | 646,750 |  |  | 622,064 |
Diluted net income (loss) per share | $ | 0.03 |  |  | $ | (0.09) |  |  | $ | (0.12) |  |  | $ | (0.04) |
There were no preferred dividends declared or accumulated for the periods presented. The following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive, 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,
| 2023 |  | 2022 |  | 2023 |  | 2022
RSUs | 25,947 |  |  | 57,823 |  |  | 68,994 |  |  | 57,823 |
Options | 4,630 |  |  | 11,722 |  |  | 8,211 |  |  | 11,722 |
Restricted Shares | — |  |  | 555 |  |  | — |  |  | 555 |
Employee Stock Purchase Plan | — |  |  | 678 |  |  | 3,398 |  |  | 678 |
Total anti-dilutive securities | 30,577 |  |  | 70,778 |  |  | 80,603 |  |  | 70,778 |

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