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Net Income (Loss) Per Share | 9 Months Ended
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Sep. 30, 2022
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | Net Income (Loss) Per Share The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Basic |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income (loss) | $ | 251,562 |  |  | $ | 6,651 |  |  | $ | 264,780 |  |  | $ | (25,764) |
Denominator: |  |  |  |  |  |  |
Weighted average shares used to compute net income (loss) per share, basic | 126,132 |  |  | 144,746 |  |  | 128,166 |  |  | 140,775 |
Net income (loss) per share, basic | $ | 1.99 |  |  | $ | 0.05 |  |  | $ | 2.07 |  |  | $ | (0.18) |
Diluted |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income (loss) | $ | 251,562 |  |  | $ | 6,651 |  |  | $ | 264,780 |  |  | $ | (25,764) |
Convertible senior notes activity, net of tax(1) | (69,042) |  |  | — |  |  | (66,630) |  |  | — |
Net income (loss), diluted | $ | 182,520 |  |  | $ | 6,651 |  |  | $ | 198,150 |  |  | $ | (25,764) |
Denominator: |  |  |  |  |  |  |
Weighted average shares used to compute net income (loss) per share, basic | 126,132 |  |  | 144,746 |  |  | 128,166 |  |  | 140,775 |
Shares related to stock plan activity | 504 |  |  | 1,953 |  |  | 674 |  |  | — |
Shares related to convertible senior notes | 21,409 |  |  | — |  |  | 22,381 |  |  | — |
Weighted average shares used to compute net income (loss) per share, diluted | 148,045 |  |  | 146,699 |  |  | 151,221 |  |  | 140,775 |
Net income (loss) per share, diluted | $ | 1.23 |  |  | $ | 0.05 |  |  | $ | 1.31 |  |  | $ | (0.18) |
(1) Includes the gain on early extinguishment on our 2026 notes and interest expense on our notes, net of tax. For further information, see Note 8, “Convertible Senior Notes.” The following potential weighted-average shares of common stock outstanding were excluded from the computation of diluted net income (loss) per share because including them would have been anti-dilutive (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Shares related to stock plan activity | 7,534 |  |  | 849 |  |  | 4,148 |  |  | 2,727 |
Shares related to convertible senior notes | — |  |  | 22,875 |  |  | — |  |  | 23,876 |
Total common stock equivalents | 7,534 |  |  | 23,724 |  |  | 4,148 |  |  | 26,603 |

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