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Net (Loss) Income Per Share
12 Months Ended
Dec. 31, 2022
Net (Loss) Income Per Share [Abstract]  
Net (Loss) Income Per Share NOTE 11. NET (LOSS) INCOME PER SHARE

Basic net (loss) income per share and diluted net (loss) income per share are presented for the three years presented.

The following table presents the calculation of weighted-average shares of common stock used in the computations of basic and diluted net (loss) income per share amounts presented in the accompanying consolidated statements of operations and comprehensive (loss) income (in thousands, except per share amounts):

Years Ended December 31,

2022

2021

2020

Numerator:

Net (loss) income

$

(314,248)

$

(181,223)

$

29,403 

Denominator:

Basic

Weighted-average shares used in computing basic net (loss) income per share

224,550 

204,136 

165,187 

Basic net (loss) income per share

$

(1.40)

$

(0.89)

$

0.18 

Diluted

Weighted-average shares used in computing basic net (loss) income per share

224,550 

204,136 

165,187 

Add: weighted-average stock options

6,092 

Add: weighted-average restricted stock units

2,324 

Add: weighted-average common stock issuable pursuant to our ESPP

1,367 

Weighted-average shares used in computing diluted net (loss) income per share

224,550 

204,136 

174,970 

Diluted net (loss) income per share

$

(1.40)

$

(0.89)

$

0.17 

The following shares issuable upon conversion of convertible senior notes, options outstanding, time-based RSUs, performance-based RSUs, and ESPP shares to purchase common stock were excluded from the computation of diluted net loss per share for the periods presented because the effect of including such shares would have been antidilutive:

Years Ended December 31,

(in thousands)

2022

2021

2020

Shares issuable upon conversion of convertible senior notes

20,690 

20,690 

Options to purchase common stock

14,876 

12,463 

4,908 

RSUs with time-based vesting

8,535 

7,392 

100 

RSUs with performance-based vesting

94 

ESPP shares

3,880 

1,564 

2,890 

As described in Note 2. Business Acquisitions, the contingently issuable shares would be due upon the achievement of a milestone. See Note 10. Stockholders’ Equity for detailed information on RSUs with time-based vesting and RSUs with performance-based vesting.