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Net (Loss) Income Per Share | 9 Months Ended
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Sep. 30, 2023
Earnings Per Share [Abstract] |
Net (Loss) Income Per Share | Net (Loss) Income Per Share The following tables set forth the computation of basic and diluted net (loss) income per share (in thousands, except per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Basic |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net (loss) income | $ | (18,283) |  |  | $ | 251,562 |  |  | $ | 8,515 |  |  | $ | 264,780 |
Denominator: |  |  |  |  |  |  |
Weighted average shares used to compute net (loss) income per share, basic | 115,407 |  |  | 126,132 |  |  | 119,001 |  |  | 128,166 |
Net (loss) income per share, basic | $ | (0.16) |  |  | $ | 1.99 |  |  | $ | 0.07 |  |  | $ | 2.07 |
Diluted |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net (loss) income | $ | (18,283) |  |  | $ | 251,562 |  |  | $ | 8,515 |  |  | $ | 264,780 |
Convertible senior notes activity, net of tax(1) | — |  |  | (69,042) |  |  | (38,079) |  |  | (66,630) |
Net (loss) income, diluted | $ | (18,283) |  |  | $ | 182,520 |  |  | $ | (29,564) |  |  | $ | 198,150 |
Denominator: |  |  |  |  |  |  |
Weighted average shares used to compute net (loss) income per share, basic | 115,407 |  |  | 126,132 |  |  | 119,001 |  |  | 128,166 |
Shares related to stock plan activity | — |  |  | 504 |  |  | — |  |  | 674 |
Shares related to convertible senior notes | — |  |  | 21,409 |  |  | 2,875 |  |  | 22,381 |
Weighted average shares used to compute net (loss) income per share, diluted | 115,407 |  |  | 148,045 |  |  | 121,876 |  |  | 151,221 |
Net (loss) income per share, diluted | $ | (0.16) |  |  | $ | 1.23 |  |  | $ | (0.24) |  |  | $ | 1.31 |
(1) Includes the gain on early extinguishment and interest expense on our notes, net of tax, when dilutive. For further information, see Note 5, “Convertible Senior Notes.” The following potential weighted-average shares of common stock outstanding were excluded from the computation of diluted net (loss) income per share because including them would have been anti-dilutive (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Shares related to stock plan activity | 8,732 |  |  | 7,534 |  |  | 8,349 |  |  | 4,148 |
Shares related to convertible senior notes | 10,280 |  |  | — |  |  | 10,378 |  |  | — |
Total common stock equivalents | 19,012 |  |  | 7,534 |  |  | 18,727 |  |  | 4,148 |

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