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NET INCOME (LOSS) PER SHARE
6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER SHARE NET INCOME (LOSS) PER SHARE
The Company computes net income (loss) per share attributable to our common stockholders using the two-class method required for multiple classes of common stock and participating securities. The holders of our Class A and Class B common stock (together, "common stock") have identical liquidation and dividend rights but different voting rights. Accordingly, we present net income (loss) per share for Class A and Class B common stock together.

Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding adjusted for the dilutive effect of all potential shares of common stock. In periods when the Company reported a net loss, diluted net loss per share is the same as basic net loss per share because the effects of potentially dilutive items were anti-dilutive.
The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except per share data):
Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
Basic net income (loss) per share:
Numerator
Net income (loss) attributable to common stockholders$88,517 $538,458 $(220,164)$728,330 
Denominator
Shares used to compute basic net income (loss) per share597,829 612,882 597,702 616,108 
Basic net income (loss) per share$0.15 $0.88 $(0.37)$1.18 
Diluted net income (loss) per share:
Numerator
Net income (loss) attributable to common stockholders$88,517 $538,458 $(220,164)$728,330 
Interest expense on convertible notes243 823 — 2,409 
Net income (loss) used to compute diluted net income per share$88,760 $539,281 $(220,164)$730,739 
Denominator
Shares used to compute basic net income (loss) per share597,829 612,882 597,702 616,108 
Stock options, restricted stock, and employee stock purchase plan8,441 2,202 — 4,412 
Convertible notes2,577 3,844 — 6,583 
Shares used to compute diluted net income (loss) per share608,847 618,928 597,702 627,103 
Diluted net income (loss) per share$0.15 $0.87 $(0.37)$1.17 

The following potential common shares were excluded from the calculation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented (in thousands):
Three Months Ended
June 30,
Six Months Ended
June 30,
2026202520262025
Stock options, restricted stock, and employee stock purchase plan44,959 41,593 43,612 37,385 
Convertible notes— — 3,207 — 
Common stock warrants3,844 11,626 3,844 11,866 
Total anti-dilutive securities48,803 53,219 50,663 49,251