Basic and Diluted Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2020

Basic and Diluted Net Income (Loss) Per Share

The following table presents the computation of net income (loss) per share (in thousands, except per share amounts):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Numerator:
Net income (loss) attributable to common stockholders	$	(35,293)	$	(3,219)	$	(50,766)	$	2,695
Denominator:
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders, basic	66,039		62,613		65,804		62,271
Effect of dilutive securities:
Convertible senior notes	—		—		—		2,333
Contingently issuable shares	—		—		—		6
Employee stock awards	—		—		—		3,384
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders, diluted	66,039		62,613		65,804		67,994
Net income (loss) per share attributable to common stockholders, basic	$	(0.53)	$	(0.05)	$	(0.77)	$	0.04
Net income (loss) per share attributable to common stockholders, diluted	$	(0.53)	$	(0.05)	$	(0.77)	$	0.04

The following weighted-average equivalent shares of common stock, excluding the impact of the treasury stock method, were excluded from the diluted net income (loss) per share calculation because their inclusion would have been anti-dilutive (in thousands):


	Three Months Ended June 30,			Six Months Ended June 30,
	2020	2019	2020	2019
Stock awards	4,003	4,751	4,075	249

Convertible senior notes	6,137	5,188	6,137	—
Total shares excluded from net loss per share	10,140	9,939	10,212	249

It is our current intent to settle the principal amount of each series of the Notes with cash and, therefore, we use the treasury stock method for calculating any potential dilutive effect of the conversion options on diluted net income per share. The conversion options may have a dilutive impact on net income per share of common stock when the average market price per share of our Class A common stock for a given period exceeds the conversion price of the 2023 Notes and 2024 & 2026 Notes of $44.33 and $189.36 per share, respectively.