NET INCOME (LOSS) PER SHARE

3 Months Ended

Mar. 31, 2022

Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding adjusted for the dilutive effect of all potential shares of common stock. In periods when the Company reported a net loss, diluted net loss per share is the same as basic net loss per share because the effects of potentially dilutive items were anti-dilutive.

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


	Three Months Ended March 31,
	2022		2021
Numerator:
Net income (loss)	$	(207,363)	$	39,008
Less: Net loss attributable to noncontrolling interests	(3,164)		—
Net income (loss) attributable to common stockholders	$	(204,199)	$	39,008
Denominator:
Basic shares:
Weighted-average common shares outstanding	541,767		455,414
Weighted-average unvested shares	(332)		(441)
Weighted-average shares used to compute basic net income (loss) per share:	541,435		454,973
Diluted shares:
Stock options, restricted stock, and employee stock purchase plan	—		20,972
Convertible senior notes	—		322
Common stock warrants	—		25,086
Weighted-average shares used to compute diluted net income (loss) per share:	541,435		501,353
Net income (loss) per share attributable to common stockholders:
Basic	$	(0.38)	$	0.09
Diluted	$	(0.38)	$	0.08

The following potential common shares were excluded from the calculation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented (in thousands):


	Three Months Ended March 31,
	2022	2021
Stock options, restricted stock, and employee stock purchase plan	23,402	6,109
Convertible senior notes	18,038	3,845
Common stock warrants	42,361	17,275
Total anti-dilutive securities	83,801	27,229