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Net Income (Loss) Per Basic and Diluted Share | 12 Months Ended
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Dec. 31, 2022
Earnings Per Share [Abstract] |
Net Income (Loss) Per Basic and Diluted Share | Net Income (Loss) Per Basic and Diluted Share The Company computes earnings per share (EPS) in conformity with the two-class method required for participating securities. The two-class method is an earnings allocation method that determines net income (loss) per share for each class of common stock and participating securities according to dividends declared (or accumulated) and participation rights in undistributed earnings or losses. We consider early exercised share options to be participating securities. The impact of early exercised share options on basic and diluted EPS was immaterial for 2022, 2021 and 2020. Basic EPS is computed by dividing net income (loss) available to common stockholders by the weighted average number of common stock outstanding during the period. Diluted EPS is computed by dividing income (loss) attributable to common stockholders by the number of diluted shares outstanding. Diluted shares equal the total of the basic shares outstanding and all potentially issuable shares, other than antidilutive shares, if any, weighted for the average days outstanding for the period. The dilutive effect of outstanding awards and convertible securities is reflected in diluted earnings per share by application of the treasury stock method. The following table provides a reconciliation of the numerators and denominators of the basic and diluted per share computations for net income (loss) attributable to common stockholders:
(in millions, except per share amounts) |  |  |  |  |  |
Year Ended December 31, |  | 2022 |  | 2021 |  | 2020
Numerator: |  |  |  |  |  |
Net income (loss) attributable to common stockholders – basic and diluted |  | $ | (10.2) |  |  | $ | (42.5) |  |  | $ | 5.3 |
Denominator: |  |  |  |  |  |
Weighted-average shares of common stock – basic |  | 70.6 |  |  | 51.9 |  |  | 44.3 |
Effect of dilutive stock options and restricted stock units |  | — |  |  | — |  |  | 4.3 |
Effect of potentially dilutive Series A redeemable convertible preferred stock |  | — |  |  | — |  |  | 7.7 |
Weighted-average shares of common stock – diluted |  | 70.6 |  |  | 51.9 |  |  | 56.3 |
Net income (loss) per share attributable to common stockholders: |  |  |  |  |  |
Basic |  | $ | (0.14) |  |  | $ | (0.82) |  |  | $ | 0.12 |
Diluted |  | $ | (0.14) |  |  | $ | (0.82) |  |  | $ | 0.09 |
The rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock, as well as of Class F stock prior to the Company’s IPO in November 2021, are identical, except with respect to voting and conversion. See Note 11–Stockholders’ Equity for further discussion. As the liquidation and dividend rights are identical for Class A, Class B and predecessor Class F common stock, the undistributed earnings are allocated on a proportional basis and the resulting net income (loss) attributable to common stockholders will be the same for Class A, Class B and the predecessor Class F common stock on an individual or combined basis. The following common stock equivalents were excluded from the computation of diluted net income (loss) per share for the periods presented because including them would have been antidilutive:
(in millions) |  |  |  |  |
Year Ended December 31, |  | 2022 |  | 2021 | 2020
Shares subject to outstanding stock options and restricted stock units |  | 9.6 |  |  | 5.0 |  |  | 2.0 |
Employee stock purchase plan |  | 1.4 |  |  | 0.6 |  |  | — |

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