Net Income (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 2021

Summary of Calculation of Basic and Diluted Net Income (Loss) Per Share

The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except per share data):

	Three Months Ended				Nine Months Ended
	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Numerator:
Net income (loss)	$	68,935	$	12,947	$	218,698	$	(84,813	)
Denominator:
Weighted-average common shares outstanding — basic		133,685		125,687		132,036		122,837
Net income (loss) per share — basic	$	0.52	$	0.10	$	1.66	$	(0.69	)

Weighted-average common shares outstanding — basic		133,685		125,687		132,036		122,837
Common stock equivalents		8,601		10,982		9,557		—
Weighted-average common shares outstanding — diluted		142,286		136,669		141,593		122,837
Net income (loss) per share — diluted	$	0.48	$	0.09	$	1.54	$	(0.69	)

Schedule of Antidilutive Securities Excluded from Calculation of Diluted Net Income or Net Loss Per Share

Common stock equivalents excluded from the calculation of diluted net income per share or excluded from the calculation of diluted net loss per share because of their anti-dilutive effect are as follows (in thousands):

	Three Months Ended				Nine Months Ended
	September 30, 2021		September 30, 2020		September 30, 2021		September 30, 2020
Restricted stock units and stock options		465		688		465		14,229
Unvested shares of common stock issued upon early exercise of stock options		—		—		—		2
Total		465		688		465		14,231