Net Income (Loss) Per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

22.NET INCOME (LOSS) PER SHARE

The Company calculates basic earnings per share by dividing the net income (loss) attributable to common stockholders by the weighted average number of shares of common stock outstanding for the period. The diluted earnings per share is computed by assuming the exercise, settlement and vesting of all potential dilutive common stock equivalents outstanding for the period using the treasury stock method. The Company excludes common stock equivalent shares from the calculation if their effect is anti-dilutive. In a period where the Company is in a net loss position, the diluted loss per share is calculated using the basic share count.

The following table sets forth a reconciliation of the numerator and denominator used to compute basic and diluted earnings per share of common stock (in thousands, except for share and per share data).

	For the Three Months Ended						For the Six Months Ended
	June 30,						June 30,
	2024			2023			2024			2023
Numerator
Net income (loss)	$	21,445		$	(97,344	)	$	20,848		$	(95,160	)
Accretion of redeemable non-controlling interest		(1,221	)		(315	)		(2,363	)		(315	)
Net income (loss) attributable to common stockholders	$	20,224		$	(97,659	)	$	18,485		$	(95,475	)
Denominator
Weighted average shares of common stock—basic		609,997,114			621,235,776			604,138,246			618,740,340
Dilutive effect of stock-based awards		28,370,631			—			32,852,387			—
Weighted average shares of common stock—diluted		638,367,745			621,235,776			636,990,633			618,740,340
Net income (loss) per share:
Basic	$	0.03		$	(0.16	)	$	0.03		$	(0.15	)
Diluted	$	0.03		$	(0.16	)	$	0.03		$	(0.15	)

Approximately 52,267 and 30,191,730 common stock equivalent shares were excluded from the computation of diluted per share amounts for the three months ended June 30, 2024 and 2023, respectively, because their effect was anti-dilutive.

Approximately 4,794,260 and 30,147,441 common stock equivalent shares were excluded from the computation of diluted per share amounts for the six months ended June 30, 2024 and 2023, respectively, because their effect was anti-dilutive.

As part of the Business Combination, 8,625,000 shares issued and held by Dragoneer (the "Sponsor Vesting Shares") became non-transferable and subject to forfeiture on the tenth anniversary of the closing of the Business Combination if neither of the defined triggering events has occurred. The Sponsor Vesting Shares are issued and outstanding as of June 30, 2024 and December 31, 2023 and excluded from the weighted average number of shares of common stock outstanding until the vesting requirement is met and the restriction is removed.