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Net (Loss) Income Per Share | 9 Months Ended
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Sep. 30, 2024
Earnings Per Share [Abstract] |
Net (Loss) Income Per Share | Net (Loss) Income Per Share The following table presents 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,
| 2024 |  | 2023 |  | 2024 |  | 2023
Basic |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net (loss) income | $ | (212,639) |  |  | $ | (18,283) |  |  | $ | (830,943) |  |  | $ | 8,515 |
Denominator: |  |  |  |  |  |  |
Weighted average shares used to compute net (loss) income per share, basic | 103,723 |  |  | 115,407 |  |  | 102,893 |  |  | 119,001 |
Net (loss) income per share, basic | $ | (2.05) |  |  | $ | (0.16) |  |  | $ | (8.08) |  |  | $ | 0.07 |
Diluted |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net (loss) income | $ | (212,639) |  |  | $ | (18,283) |  |  | $ | (830,943) |  |  | $ | 8,515 |
Convertible senior notes activity, net of tax | — |  |  | — |  |  | — |  |  | (38,079) |
Net (loss) income, diluted | $ | (212,639) |  |  | $ | (18,283) |  |  | $ | (830,943) |  |  | $ | (29,564) |
Denominator: |  |  |  |  |  |  |
Weighted average shares used to compute net (loss) income per share, basic | 103,723 |  |  | 115,407 |  |  | 102,893 |  |  | 119,001 |
Shares related to convertible senior notes | — |  |  | — |  |  | — |  |  | 2,875 |
Weighted average shares used to compute net (loss) income per share, diluted | 103,723 |  |  | 115,407 |  |  | 102,893 |  |  | 121,876 |
Net (loss) income per share, diluted | $ | (2.05) |  |  | $ | (0.16) |  |  | $ | (8.08) |  |  | $ | (0.24) |
The following table presents potential weighted-average shares of common stock outstanding that 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,
| 2024 |  | 2023 |  | 2024 |  | 2023
Shares related to stock plan activity | 9,262 |  |  | 8,732 |  |  | 7,551 |  |  | 8,349 |
Shares related to convertible senior notes | 9,234 |  |  | 10,280 |  |  | 9,234 |  |  | 10,378 |
Total common stock equivalents | 18,496 |  |  | 19,012 |  |  | 16,785 |  |  | 18,727 |

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