Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2025

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 income (loss) per share is as follows (in thousands, except per share amounts):


	Three Months Ended March 31,
		2025		2024
Numerator:
Net income (loss) attributable to common stockholders		$	50,011	$	(87,818)
Debt discount amortization		634		—
Net income (loss) available to common stockholders		$	50,645	(87,818)
Denominator:
Weighted average shares used to compute net income (loss) per share attributable to common stockholders, basic		226,406		219,882
Weighted average effect of potentially dilutive shares to purchase common stock		31,505		—
Weighted average shares used to compute net income (loss) per share attributable to common stockholders, diluted		257,911		219,882
Net income (loss) per share attributable to common stockholders
Basic		$	0.22	$	(0.40)
Diluted		$	0.20	$	(0.40)

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 March 31,
		2025	2024

Outstanding stock options		2,567	1,968
Unvested restricted stock units		14,157	8,345
Convertible Senior Notes (if converted)		—	14,146
Total		16,724	24,459