Net Income Per Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Net Income Per Share

Net Income Per Share

Basic net income per share is computed using the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed using the weighted-average number of shares of common stock outstanding during the period, including potential common shares assuming the dilutive effect of outstanding stock options, restricted stock units, and the employee stock purchase plan using the treasury stock method. Potential common shares whose effect would have been antidilutive are excluded from the computation of diluted net income per share. The following table sets forth the computation of our basic and diluted net income per share attributable to common stockholders, as adjusted to give effect to the Stock Split (in thousands, except per share amounts):

	Year Ended December 31,
	2024		2023		2022
Net income	$	2,852,054	$	2,087,321	$	1,352,446
Basic weighted-average shares outstanding	1,256,303		1,237,417		1,225,891
Add weighted-average effects of dilutive securities:
Stock options and RSUs	24,426		30,893		39,504
Employee stock purchase plan	348		228		440
Diluted weighted-average shares outstanding	1,281,077		1,268,538		1,265,835
Net income per share:
Basic	$	2.27	$	1.69	$	1.10
Diluted	$	2.23	$	1.65	$	1.07

The following weighted-average outstanding shares of common stock equivalents were excluded from the computation of diluted net income per share attributable to common stockholders because their effects would have been anti-dilutive for the periods presented, as adjusted to give effect to the Stock Split (in thousands):

	Year Ended December 31,
	2024	2023	2022
Stock options and RSUs	242	579	1,209
Employee stock purchase plan	26	412	800
Total	268	991	2,009