| 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 | | June 30, 2026 | | June 30, 2025 | | Class A | | Class B | | Class A | | Class B | Basic net income (loss) per share | | | | | | | | | Numerator | | | | | | | | Net income (loss), basic | $ | 12,580 | | | $ | 862 | | | $ | (18,070) | | | $ | (1,330) | | | Denominator | | | | | | | | | Weighted-average shares outstanding, basic | 52,069,343 | | | 3,569,583 | | | 52,231,140 | | | 3,845,583 | | Net income (loss) per share, basic | $ | 0.24 | | | $ | 0.24 | | | $ | (0.35) | | | $ | (0.35) | | | | | | | | | | Diluted net income (loss) per share | | | | | | | | | Numerator | | | | | | | | Net income (loss), basic | $ | 12,580 | | | $ | 862 | | | $ | (18,070) | | | $ | (1,330) | | | | | | | | | | Net income (loss), diluted | $ | 12,580 | | | $ | 862 | | | $ | (18,070) | | | $ | (1,330) | | | Denominator | | | | | | | | | Weighted-average shares outstanding, basic | 52,069,343 | | | 3,569,583 | | | 52,231,140 | | | 3,845,583 | | Weighted-average effect of dilutive securities: | | | | | | | | | Employee share-based awards | 390,377 | | | 26,762 | | | — | | | — | | | | | | | | | | Number of shares used in diluted calculation | 52,459,721 | | | 3,596,345 | | | 52,231,140 | | | 3,845,583 | | Net income (loss) per share, diluted | $ | 0.24 | | | $ | 0.24 | | | $ | (0.35) | | | $ | (0.35) | |
| | | | | | | | | | | | | | | | | | | | | | | | | Six months ended | | June 30, 2026 | | June 30, 2025 | | Class A | | Class B | | Class A | | Class B | | Basic net income (loss) per share | | | | | | | | | Numerator | | | | | | | | | Net income (loss), basic | $ | 30,339 | | | $ | 2,099 | | | $ | (37,978) | | | $ | (2,793) | | | Denominator | | | | | | | | | Weighted-average shares outstanding, basic | 51,684,300 | | | 3,575,309 | | | 52,287,703 | | | 3,845,583 | | | Net income (loss) per share, basic | $ | 0.59 | | | $ | 0.59 | | | $ | (0.73) | | | $ | (0.73) | | | | | | | | | | | Diluted net income (loss) per share | | | | | | | | | Numerator | | | | | | | | | Net income (loss), basic | $ | 30,339 | | | $ | 2,099 | | | $ | (37,978) | | | $ | (2,793) | | | | | | | | | | | Net income (loss), diluted | $ | 30,339 | | | $ | 2,099 | | | $ | (37,978) | | | $ | (2,793) | | | Denominator | | | | | | | | | Weighted-average shares outstanding, basic | 51,684,300 | | | 3,575,309 | | | 52,287,703 | | | 3,845,583 | | Weighted-average effect of diluted securities: | | | | | | | | | Employee share-based awards | 523,362 | | | 36,204 | | | — | | | — | | | | | | | | | | Number of shares used in diluted calculation | 52,207,662 | | | 3,611,513 | | | 52,287,703 | | | 3,845,583 | | Net income (loss) per share, diluted | $ | 0.58 | | | $ | 0.58 | | | $ | (0.73) | | | $ | (0.73) | |
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 June 30, | | Six months ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Shares subject to outstanding common stock options | — | | | 725,459 | | | — | | | 725,459 | | | Shares subject to unvested restricted stock units and performance restricted stock units | — | | | 3,180,310 | | | — | | | 3,180,310 | | | Shares issuable pursuant to the ESPP | — | | | 89,499 | | | — | | | 89,499 | | Shares underlying our convertible senior notes | 6,132,025 | | | 6,132,025 | | | 6,132,025 | | | 6,132,025 | |
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