Net Income Per Common Share (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Basic and Diluted Earnings Per Share

The following table presents the calculation of basic and diluted net income per share attributable to common stockholders for the periods indicated. Basic net income per share is calculated using the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is calculated using the weighted-average number of shares of common stock outstanding including the dilutive effect of all potential shares of common stock as determined under the treasury stock method. Dilutive common shares primarily include outstanding stock options and unvested restricted stock units (“RSUs”). Certain common stock equivalents, primarily RSUs, were excluded from diluted net income per share because their effect would have been anti-dilutive.


	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands, except per share data)	2026		2025		2026		2025
Numerator:


Net income attributable to common stockholders	$	205,908	$	6,536	$	254,961	$	17,888
Denominator:
Weighted-average shares used in computing net income per share attributable to common stockholders:
Basic	210,839		204,693		210,936		203,227

Effect of dilutive securities	10,210		14,285		8,087		15,477
Diluted	221,049		218,978		219,023		218,704
Net income per share attributable to common stockholders:
Basic	$	0.98	$	0.03	$	1.21	$	0.09
Diluted	$	0.93	$	0.03	$	1.16	$	0.08
Common stock equivalents excluded from diluted net income per share(1)	3,999		1,823		3,999		1,823

________________

(1) As of June 30, 2026, performance stock units (“PSUs”) to be settled in 1.5 million shares of common stock were excluded as they are subject to market conditions that were not achieved as of such date.