The Company has two classes of common stock, Class A and Class B. Basic and diluted earnings per share attributable to common stockholders for Class A and Class B common stock were the same because they were entitled to the same liquidation and dividend rights.

Basic earnings per share is calculated by dividing net income by the weighted-average number of shares of common stock outstanding. Diluted earnings per share is calculated by dividing net income by the weighted-average number of shares of common stock outstanding adjusted for the potentially dilutive impact of stock options, restricted stock and the Employee Stock Purchase Plan (“ESPP”), using the two-class method required for participating securities. Restricted stock awards are considered to be participating securities due to their non-forfeitable dividend rights.


	Three Months Ended March 31,
	2025		2024
Numerator:
Net income	$	50,678	$	31,660
Denominator:
Weighted-average shares outstanding—basic	494,927		488,551
Effect of dilutive securities	8,017		9,641
Weighted-average shares outstanding—diluted	502,944		498,192
Basic earnings per share	$	0.10	$	0.06
Diluted earnings per share	$	0.10	$	0.06
Anti-dilutive equity awards under stock-based award plans excluded from the determination of diluted earnings per share	4,074		4,799