Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 2024

Basic net income (loss) per share is computed by dividing net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) attributable to common stockholders by the weighted-average number of common shares outstanding during the period adjusted to include the effect of potentially dilutive securities. Potentially dilutive securities are excluded from the computation of dilutive EPS in periods in which the effect would be antidilutive.

The computation of the Company’s basic and diluted net loss per share is as follows (in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator:
Net loss attributable to common stockholders	$	(83,766)	$	(1,069,459)	$	(32,510)	$	(1,254,373)


Denominator:
Weighted average shares used to compute net loss per share attributable to common stockholders, basic	223,695		217,344		222,078		216,029
Weighted average effect of potentially dilutive shares to purchase common stock	—		—		—		—
Weighted average shares used to compute net loss per share attributable to common stockholders, diluted	223,695		217,344		222,078		216,029
Net loss per share attributable to common stockholders
Basic	$	(0.37)	$	(4.92)	$	(0.15)	$	(5.81)
Diluted	$	(0.37)	$	(4.92)	$	(0.15)	$	(5.81)

The following shares were excluded from the computation of diluted net income (loss) per share as the impact of including those shares would be anti-dilutive (in thousands):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2024	2023	2024	2023

Outstanding stock options	1,315	1,516	1,755	1,529
Unvested restricted stock units	2,568	8,663	7,924	6,840
Convertible Senior Notes (if converted)	30,783	3,392	14,976	2,262
Total	34,666	13,571	24,655	10,631