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Net Income (Loss) Per Share (Tables)

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic, by Common Class, Including Two Class Method

The following table presents the Company’s basic net income (loss) per share (in thousands, except per share amounts):

			Three Months Ended June 30,												Six Months Ended June 30,
			2021						2020						2021						2020
Net income (loss) per share, basic:
Net income (loss)			$	(52,847)					$	21,323					$	(39,449)					$	10,241
Less: Accretion of redeemable convertible preferred stock			(483)						(956)						(1,480)						(1,911)
Less: Undistributed earnings attributable to participating securities			—						(4,745)						—						(1,943)
Net income (loss) attributable to Class A and Class B common stockholders			$	(53,330)					$	15,622					$	(40,929)					$	6,387
Weighted average shares of Class A and Class B common stock outstanding			96,726						79,681						87,829						79,552
Net income (loss) per share attributable to Class A and Class B common stockholders, basic			$	(0.55)					$	0.20					$	(0.47)					$	0.08

Schedule of Earnings Per Share, Diluted, by Common Class, Including Two Class Method

The following table presents the Company’s diluted net income (loss) per share (in thousands, except per share amounts):

			Three Months Ended June 30,												Six Months Ended June 30,
			2021						2020						2021						2020
Net income (loss) per share, diluted:
Numerator:
Net income (loss) attributable to Class A and Class B common stockholders			$	(53,330)					$	15,622					$	(40,929)					$	6,387
Add:
Reallocation of net income attributable to participating securities			—						477						—						202
Interest on convertible notes with related parties, net of tax			—						11						—						—
Net income (loss) attributable to Class A and Class B common stockholders, diluted			$	(53,330)					$	16,110					$	(40,929)					$	6,589
Denominator:
Weighted average shares of Class A and Class B common stock outstanding, basic			96,726						79,681						87,829						79,552
Effect of dilutive securities:
Options to purchase common stock			—						11,236						—						12,029
Convertible notes with related parties			—						373						—						—
Weighted average shares of Class A and Class B common stock outstanding, diluted			96,726						91,290						87,829						91,581
Net income (loss) per share attributable to Class A and Class B common stockholders, diluted			$	(0.55)					$	0.18					$	(0.47)					$	0.07

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table presents the weighted average number of potentially dilutive common stock equivalents excluded from the computation of diluted net income (loss) per share because their inclusion would have been anti-dilutive (in thousands):

			Three Months Ended June 30,												Six Months Ended June 30,
			2021						2020						2021						2020
Options to purchase common stock			15,521						6,643						17,065						5,499
Restricted stock units			6,078						3,921						5,820						3,550
Redeemable convertible preferred stock, if converted basis			11,436						—						17,784						—
Convertible notes with related parties, if converted basis			1,860						—						2,457						187
Unvested early exercise common stock			61						—						31						—
Total shares excluded from diluted net income (loss) per share			34,956						10,564						43,157						9,236

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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.

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Tabular disclosure of the effect of income (loss) on basic earnings per share.

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Tabular disclosure of the effect of income (loss) on an entity's diluted earnings per share.

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-Publisher FASB
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