| Schedule of computation of net income per share |
The computation of Net income per share, including the weighted-average shares outstanding (“WASO”) used in the computation, is as follows (in thousands, except per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | 2025 | | 2024 | | 2025 | | 2024 | | Numerators | | | | | | | | | Net income | $ | 1,428,900 | | | $ | 36,150 | | | $ | 1,494,508 | | | $ | 1,212,395 | | Less: net income allocated to participating shares | — | | | (23) | | | — | | | (784) | | | Net income attributable to common stockholders, basic | $ | 1,428,900 | | | $ | 36,127 | | | $ | 1,494,508 | | | $ | 1,211,611 | | | | | | | | | | | Net income | $ | 1,428,900 | | | $ | 36,150 | | | $ | 1,494,508 | | | $ | 1,212,395 | | Add: interest on convertible notes, net of tax | 3,611 | | | — | | | 7,209 | | | 6,145 | | Less: net income allocated to participating shares | — | | | (22) | | | — | | | (711) | | | Net income attributable to common stockholders, diluted | $ | 1,432,511 | | | $ | 36,128 | | | $ | 1,501,717 | | | $ | 1,217,829 | | | | | | | | | | | Denominators | | | | | | | | | WASO - basic | 255,188 | | | 246,298 | | | 254,537 | | | 244,546 | | | Weighted-average effect of potentially dilutive shares: | | | | | | | | | Stock options | 15,299 | | | 17,254 | | | 15,561 | | | 17,894 | | | Convertible notes | 7,229 | | | — | | | 7,229 | | | 5,687 | | | Restricted stock units | 665 | | | 2,672 | | | 807 | | | 2,250 | | | Performance restricted stock units | 446 | | | 350 | | | 413 | | | 343 | | | Restricted stock | 86 | | | 257 | | | 153 | | | 283 | | | WASO - diluted | 278,913 | | | 266,831 | | | 278,700 | | | 271,003 | | | | | | | | | | | Net income per share attributable to common stockholders: | | | | | | | | | Basic | $ | 5.60 | | | $ | 0.15 | | | $ | 5.87 | | | $ | 4.95 | | | Diluted | $ | 5.14 | | | $ | 0.14 | | | $ | 5.39 | | | $ | 4.49 | |
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| Schedule of potentially dilutive shares |
The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive, or in the case of performance awards, as the issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the reporting period (in thousands):
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2025 | | 2024 | | 2025 | | 2024 | Equity awards(1) | 7,383 | | | 7,807 | | | 7,383 | | | 7,807 | | | Convertible notes | — | | | 7,229 | | | — | | | — | | | Total | 7,383 | | | 15,036 | | | 7,383 | | | 7,807 | |
__________________ (1)Includes shares under the ESPP. See also Note 16. Commitments and Contingencies for discussion of an additional 10,997,881 shares of Class A common stock that would be issued should the Company’s acquisition of Sentillia B.V. (“Deribit”) close as anticipated.
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