NET INCOME (LOSS) PER SHARE

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

NET INCOME (LOSS) PER SHARE

NOTE 12: NET INCOME (LOSS) PER SHARE

The following table presents the calculation of basic and diluted income (loss) per share:

(in millions, except share and per share data)	Three Months Ended September 30,								Nine months ended September 30,
	2023				2024				2023				2024
	Class A		Class B		Class A		Class B		Class A		Class B		Class A		Class B
Basic earnings per share (“EPS”):
Numerator
Net income (loss)	$	(73)	$	(12)	$	129	$	21	$	(490)	$	(81)	$	425	$	70
Net income (loss) attributable to common stockholders	$	(73)	$	(12)	$	129	$	21	$	(490)	$	(81)	$	425	$	70
Denominator
Weighted-average common shares outstanding - basic	767,981,843		127,126,947		761,931,947		122,176,598		771,585,189		127,414,275		756,319,103		123,863,470
Basic EPS	$	(0.09)	$	(0.09)	$	0.17	$	0.17	$	(0.64)	$	(0.64)	$	0.56	$	0.56
Diluted EPS:
Numerator
Net income (loss)	$	(73)	$	(12)	$	129	$	21	$	(490)	$	(81)	$	425	$	70
Reallocation of net income as a result of conversion of Class B to Class A common stock	—		—		21		—		—		—		70		—
Reallocation of net income to Class B common stock	—		—		—		—		—		$	—	—		(1)
Net income (loss) for diluted EPS	$	(73)	$	(12)	$	150	$	21	$	(490)	$	(81)	$	495	$	69
Denominator
Weighted-average common shares outstanding - basic	767,981,843		127,126,947		761,931,947		122,176,598		771,585,189		127,414,275		756,319,103		123,863,470
Dilutive effect of stock options and unvested shares	—		—		21,436,205		—		—		—		23,373,019		—
Conversion of Class B to Class A common stock	—		—		122,176,598		—		—		—		123,863,470		—
Weighted-average common shares outstanding - diluted	767,981,843		127,126,947		905,544,750		122,176,598		771,585,189		127,414,275		903,555,592		123,863,470
Diluted EPS	$	(0.09)	$	(0.09)	$	0.17	$	0.17	$	(0.64)	$	(0.64)	$	0.55	$	0.55

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 or issuance of such shares is contingent upon the satisfaction of certain conditions that were not satisfied by the end of the period:

	Three Months Ended September 30,		Nine Months Ended September 30,
	2023	2024	2023	2024
Time-Based RSUs	45,066,880	746,083	45,066,880	774,579
Market-Based RSUs	22,591,988	11,065,463	22,591,988	11,065,463
Stock options	13,668,390	—	13,668,390	—
Warrants	14,278,034	14,278,034	14,278,034	14,278,034
Employee Stock Purchase Plan ("ESPP")	838,958	—	838,958	—
Total anti-dilutive securities	96,444,250	26,089,580	96,444,250	26,118,076