Net Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

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

The following table shows the calculation of basic and diluted net income (loss) per share for the years ended December 31, 2022, 2021 and 2020:

	Year Ended December 31,
	2022			2021			2020
Basic net income (loss) per share:
Numerator:
Net income (loss) (in thousands)	$	(532,784	)	$	(457,892	)	$	606,073
Denominator:
Weighted average common stock outstanding    —basic		59,306,094			58,670,230			51,983,188
Effect of dilutive securities:
Stock options		—			—			721,791
Restricted stock units		—			—			292,241
Employee Stock Purchase Plan		—			—			5,895
Total dilutive securities		—			—			1,019,927
Weighted average common stock outstanding    —diluted		59,306,094			58,670,230			53,003,115
Net income (loss) per share—basic	$	(8.98	)	$	(7.80	)	$	11.66
Net income (loss) per share—diluted	$	(8.98	)	$	(7.80	)	$	11.43

Summary of Anti-Dilutive Common Stock Equivalents Outstanding

The following table summarizes common stock equivalents outstanding that were excluded from the calculation of diluted net loss per share because including them would have been anti-dilutive as of December 31, 2022, 2021 and 2020:

	Year Ended December 31,
	2022		2021		2020
Stock options		7,138,350		6,599,429		4,781,737
Restricted stock units		160,403		563,334		—
Employee stock purchase plan		76,105		23,625		—
		7,374,858		7,186,388		4,781,737