Net Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2021

The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders for the years ended December 31, 2021, 2020 and 2019:


	Year Ended December 31,
	2021		2020		2019
	(in thousands, except shares and per share data)
Basic net income (loss) per share:
Numerator
Net income (loss)	$	146,082	$	(97,564)	$	62,544
Preferred distribution to redeemable convertible Series C preferred units	—		(40,689)		(11,058)
Non-cash adjustments to redemption amount of the redeemable convertible Series C preferred units	—		47,537		(163,425)
Net income (loss) attributable to common stockholders	$	146,082	$	(90,716)	$	(111,939)
Denominator
Weighted-average common shares	126,354,597		82,908,772		37,631,052
Basic net income (loss) per share attributable to common stockholders	$	1.16	$	(1.09)	$	(2.97)

Diluted net income (loss) per share:
Numerator
Net income (loss) attributable to common stockholders	$	146,082	$	(90,716)	$	(111,939)
Denominator
Basic weighted average common shares	126,354,597		82,908,772		37,631,052
Dilutive effect of outstanding Time-Based Restricted Stock Units	35,838		—		—
Diluted weighted average common shares	126,390,435		82,908,772		37,631,052
Diluted net income (loss) per share attributable to common stockholders	$	1.16	$	(1.09)	$	(2.97)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following potentially dilutive outstanding securities for the years ended December 31, 2021, 2020 and 2019 were excluded from the computation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the periods:


	Year Ended December 31,
	2021	2020	2019
Unvested and not exercised Stock Options	194,348	—	—
Unvested Time-Based Restricted Stock Units	150,000	—	—
Unvested Performance-Based Restricted Stock Units	99,289	—	—
Redeemable public warrants	—	836,474	—
Contingency consideration	—	3,018,699	—
Retroactively restated redeemable convertible Series C preferred units	—	6,281,025	14,278,603
Total	443,637	10,136,198	14,278,603