v3.26.1
NET INCOME (LOSS) PER SHARE (Tables)
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Net Income (Loss) Per Share
The Company calculated basic and diluted net income (loss) per share attributable to common stockholders as follows (in thousands, except per share amounts):
Three Months Ended June 30,Six Months Ended June 30,
20262026
Class AClass BConsolidatedClass AClass BConsolidated
Basic EPS:
Numerator:
Net income$25,520 $2,330 $27,850 $74,482 $6,824 $81,306 
Net income attributable to common stockholders$25,520 $2,330 $27,850 $74,482 $6,824 $81,306 
Denominator:
Basic weighted-average common shares outstanding348,049,758 31,770,885 379,820,643 348,770,966 31,952,799 380,723,765 
Basic EPS$0.07 $0.07 $0.07 $0.21 $0.21 $0.21 
Diluted EPS:
Numerator:
Net income attributable to common stockholders$25,520 $2,330 $27,850 $74,482 $6,824 $81,306 
Reallocation of net income to Class B common stock2,330 (81)— 6,824 (279)— 
Net income for diluted EPS$27,850 $2,249 $27,850 $81,306 $6,545 $81,306 
Denominator:
Basic weighted-average common shares outstanding348,049,758 31,770,885 379,820,643 348,770,966 31,952,799 380,723,765 
Dilutive effect of potentially dilutive securities13,599,371 13,599,371 16,219,509 16,219,509 
Conversion of Class B to Class A common stock31,770,885 31,952,799 — 
Diluted weighted-average common shares outstanding393,420,014 31,770,885 393,420,014 396,943,274 31,952,799 396,943,274 
Diluted EPS$0.07 $0.07 $0.07 $0.20 $0.20 $0.20 
Three Months Ended June 30,Six Months Ended June 30,
20252025
Class AClass BConsolidatedClass AClass BConsolidated
Basic EPS:
Numerator:
Net income (loss)$(876,954)$(46,422)$(923,376)$(880,215)$(30,222)$(910,437)
Net income (loss) attributable to common stockholders$(876,954)$(46,422)$(923,376)$(880,215)$(30,222)$(910,437)
Denominator:
Basic weighted-average common shares outstanding120,254,772 6,365,727 126,620,499 93,212,028 3,200,449 96,412,477 
Basic EPS$(7.29)$(7.29)$(7.29)$(9.44)$(9.44)$(9.44)
Diluted EPS:
Numerator:
Net income (loss) attributable to common stockholders$(876,954)$(46,422)$(923,376)$(880,215)$(30,222)$(910,437)
Reallocation of net income (loss) to Class B common stock(46,422)— — (30,222)— — 
Net income (loss) for diluted EPS$(923,376)$(46,422)$(923,376)$(910,437)$(30,222)$(910,437)
Denominator:
Basic weighted-average common shares outstanding120,254,772 6,365,727 126,620,499 93,212,028 3,200,449 96,412,477 
Conversion of Class B to Class A common stock6,365,727 — — 3,200,449 — — 
Diluted weighted-average common shares outstanding126,620,499 6,365,727 126,620,499 96,412,477 3,200,449 96,412,477 
Diluted EPS$(7.29)$(7.29)$(7.29)$(9.44)$(9.44)$(9.44)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net income (loss) per share because including them would have had an anti-dilutive effect, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied at the end of the respective periods:
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Outstanding options to purchase common stock
10,787,139 33,550,254 9,952,863 33,550,254 
Unvested service-based RSUs
11,484,307 23,132,280 2,745,764 23,132,280 
Unvested performance-based PSUs
6,603,929 6,729,943 6,603,929 6,729,943 
Unvested market-based PSUs
1,600,000 1,600,000 1,600,000 1,600,000 
Unvested restricted stock awards
472,244 1,175,709 464,459 1,175,709 
Warrants to purchase common stock— 787,840 — 787,840 
Total anti-dilutive securities30,947,619 66,976,026 21,367,015 66,976,026