Net Income per Share

4. Net Income per Share

We compute net income per share of Class A and Class B common stock using the two-class method required for multiple classes of common stock. Holders of our Class A and Class B common stock have identical rights except with respect to voting, conversion, and transfer rights, and therefore share equally in our net income or losses.

The following table presents the calculation of basic and diluted net income per share attributable to common stock:


	Three months ended June 30,								Six months ended June 30,
	2026				2025				2026				2025
	Class A		Class B		Class A		Class B		Class A		Class B		Class A		Class B
	(in thousands, except share and per share data)
Basic net income per share attributable to common stockholders:
Numerator:
Net income attributable to common stockholders	$	189,468	$	63,380	$	62,806	$	26,491	$	338,468	$	118,361	$	80,803	$	34,652
Denominator:
Basic weighted-average common shares outstanding	144,131,494		48,214,190		130,426,589		55,011,188		142,204,102		49,728,227		128,586,761		55,144,231
Basic income per share attributable to common stockholders	$	1.31	$	1.31	$	0.48	$	0.48	$	2.38	$	2.38	$	0.63	$	0.63
Diluted net income per share attributable to common stockholders:
Numerator:
Net income attributable to common stockholders	$	192,506	$	60,342	$	64,676	$	24,621	$	344,549	$	112,280	$	83,730	$	31,725
Denominator:
Basic weighted-average common shares outstanding	144,131,494		48,214,190		130,426,589		55,011,188		142,204,102		49,728,227		128,586,761		55,144,231
Weighted-average effect of dilutive potential common stock	9,684,037		—		14,084,656		—		10,394,535		—		16,950,466		—
Shares used in computation of diluted net income per share attributable to common stockholders	153,815,531		48,214,190		144,511,245		55,011,188		152,598,637		49,728,227		145,537,227		55,144,231
Diluted net income per share attributable to common stockholders	$	1.25	$	1.25	$	0.45	$	0.45	$	2.26	$	2.26	$	0.58	$	0.58

The following outstanding potentially dilutive shares were excluded from the computation of diluted net income per share attributable to common stock for the periods presented because the impact of including them would have been anti-dilutive.


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025
	Class A	Class B	Class A	Class B	Class A	Class B	Class A	Class B

Unvested RSUs and RSAs	13,539	—	433,058	—	13,712	—	126,137	—
Total	13,539	—	433,058	—	13,712	—	126,137	—