Net income (loss) per share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

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

We calculated basic and diluted net income (loss) per share as follows (in thousands, except per share amounts):

	Year Ended December 31,
	2023				2022				2021
	Class A		Class B		Class A		Class B		Class A		Class B
Basic net income (loss) per share:
Numerator:
Net income (loss)	$	(30,937)	$	(4,673)	$	(83,110)	$	(12,937)	$	274,699	$	41,739
Denominator:
Basic weighted-average shares used in computing net income (loss) per share	586,109		88,532		576,061		89,671		555,608		84,422
Basic net income (loss) per share	$	(0.05)	$	(0.05)	$	(0.14)	$	(0.14)	$	0.49	$	0.49
Diluted net income (loss) per share:
Numerator:
Net income (loss)	$	(30,937)	$	(4,673)	$	(83,110)	$	(12,937)	$	274,699	$	41,739
Reallocation of net income as a result of conversion of Class B to Class A common stock	—		—		—		—		41,739		—
Reallocation of net income to Class B common stock	—		—		—		—		—		(3,115)
Diluted net income (loss)	$	(30,937)	$	(4,673)	$	(83,110)	$	(12,937)	$	316,438	$	38,624
Denominator:
Basic weighted-average shares used in computing net income (loss) per share	586,109		88,532		576,061		89,671		555,608		84,422
Conversion of Class B to Class A common stock	—		—		—		—		84,422		—
Weighted average effect of dilutive potential common stock	—		—		—		—		51,621		—
Diluted weighted-average shares used in computing net income (loss) per share	586,109		88,532		576,061		89,671		691,651		84,422
Diluted net income (loss) per share	$	(0.05)	$	(0.05)	$	(0.14)	$	(0.14)	$	0.46	$	0.46

Summary of Weighted-Average Anti-Dilutive Shares of Common Stock Excluded from the Calculation of Diluted Net Income (Loss) Per Share

Basic net loss per share is the same as diluted net loss per share for the periods we reported net losses. We excluded the following weighted-average potential shares of common stock from our calculation of diluted net income (loss) per share because these would be anti-dilutive (in thousands):

	Year Ended December 31,
	2023	2022	2021
Outstanding stock options	14,463	17,405	—
Unvested restricted stock units and restricted stock awards	53,228	52,256	3,271
Total	67,691	69,661	3,271