v3.26.1
Net Income (Loss) Per Share
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share Net Income (Loss) Per Share
Net income (loss) per share is allocated based on the contractual participation rights of the Class A and Class B common shares as if the income (loss) for the year has been distributed. As the liquidation and dividend rights are identical, net income (loss) is allocated on a proportionate basis.
A reconciliation of the denominator used in the calculation of basic and diluted income (loss) per share is as follows (in thousands, except share and per share data):
Three months ended
March 31, 2026March 31, 2025
Class A
Class B
Class A
Class B
Basic net income (loss) per share
Numerator
Net income (loss), basic
$17,796 $1,200 $(19,908)$(1,463)
Denominator
Weighted-average shares outstanding, basic53,292,763 3,592,805 52,311,950 3,845,583 
Net income (loss) per share, basic
$0.33 $0.33 $(0.38)$(0.38)
Diluted net income (loss) per share
Numerator
Net income (loss), basic
$17,796 $1,200 $(19,908)$(1,463)
Interest on convertible notes, net of tax
244 16 — — 
Net income (loss), diluted
$18,040 $1,216 $(19,908)$(1,463)
Denominator
Weighted-average shares outstanding, basic53,292,763 3,592,805 52,311,950 3,845,583 
Weighted-average effect of dilutive securities:
Employee share-based awards625,177 42,147 — — 
Convertible senior notes832,653 56,134 — — 
Number of shares used in diluted calculation
54,750,592 3,691,087 52,311,950 3,845,583 
Net income (loss) per share, diluted
$0.33 $0.33 $(0.38)$(0.38)
The anti-dilutive securities excluded from the weighted-average shares used to calculate the diluted net income (loss) per common share were as follows:
Three months ended March 31,
20262025
Shares subject to outstanding common stock options— 848,151 
Shares subject to unvested restricted stock units and performance restricted stock units— 3,144,913 
Shares issuable pursuant to the ESPP— 91,315 
Shares underlying our convertible senior notes
5,243,238 6,132,025