Net Income Per Share

3 Months Ended

Mar. 31, 2026

Basic net income per share is computed by dividing net income attributable to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed by dividing net income 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 per share is as follows (in thousands, except per share amounts):


	Three Months Ended March 31,
		2026		2025
Numerator:
Net income attributable to common stockholders		$	167,644	$	50,011
Debt discount amortization		498		634
Net income available to common stockholders		$	168,142	50,645
Denominator:
Weighted average shares used to compute net income per share attributable to common stockholders, basic		234,576		226,406
Weighted average effect of potentially dilutive shares to purchase common stock		37,769		31,505
Weighted average shares used to compute net income per share attributable to common stockholders, diluted		272,345		257,911
Net income per share attributable to common stockholders
Basic		$	0.71	$	0.22
Diluted		$	0.62	$	0.20

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


	Three Months Ended March 31,
		2026	2025

Outstanding stock options		1,276	2,567
Unvested restricted stock units		2,377	14,157
Convertible Senior Notes (if converted)		—	—
Total		3,653	16,724