Net Income (Loss) per Share

3 Months Ended

Mar. 31, 2023

Net Income (Loss) per ShareWe compute net income (loss) per share using the two-class method required for multiple classes of common stock and participating securities. As the liquidation and dividend rights are identical, the undistributed earnings or loss are allocated on a proportionate basis to each class of common stock, and the resulting basic and diluted net income (loss) per share attributable to common stockholders are therefore the same for Class A and Class B common stock on both an individual and a combined basis. Basic net income (loss) per share is computed using the weighted-average number of shares of Class A and Class B common stock outstanding during the period. Diluted net income (loss) per share is computed using the weighted-average number of shares of Class A and Class B common stock and potentially dilutive Class A and Class B potential common shares outstanding during the period.

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


	Three Months Ended March 31,
(in thousands, except per share amounts)		2023		2022
Numerator:
Net income (loss)		$	90,855	$	(209,294)

Denominator:
Weighted-average shares used in computing net income (loss) per share attributable to Class A and Class B common stockholders:
Basic		1,774,843		1,756,739
Dilutive effect of equity compensation awards		19,610		—
Diluted		1,794,453		1,756,739

Net income (loss) attributable to Class A and Class B common stockholders per share:
Basic		$	0.05	$	(0.12)
Diluted		$	0.05	$	(0.12)

Anti-dilutive shares (rounded)		6,000		29,000