Net Income (Loss) per Share Attributable to Common Stockholders (Tables)

The following table presents basic and diluted net income (loss) per share attributable to common stockholders for Class A and Class B common stock (in thousands, except share and per share data):


	June 30, 2026				June 30, 2025				June 30, 2024
	Class A		Class B		Class A		Class B		Class A		Class B
Numerator:
Net income (loss) attributable to common stockholders - basic	$	1,695,654	$	234,139	$	45,456	$	6,730	$	(430,789)	$	(86,968)
Net income (loss) attributable to common stockholders - diluted	$	1,704,843	$	224,950	$	45,815	$	6,371	$	(430,789)	$	(86,968)
Denominator:
Weighted average shares of common stock - basic	294,491,481		40,663,940		281,215,807		41,636,066		257,810,094		52,047,035
Dilutive effect of stock equivalents:
Restricted stock units	5,430,315		—		8,863,942		—		—		—
Stock options	7,463,459		—		8,950,174		—		—		—
Value creation award vested shares	743,411		—		346,434		—		—		—
Performance stock units	24,381		—		—		—		—		—
Employee stock purchase plan shares	21,416		—		11,143		—		—		—
Common stock warrants	8,244		—		—		—		—		—
Weighted average shares of common stock - diluted	308,182,707		40,663,940		299,387,500		41,636,066		257,810,094		52,047,035
Net income (loss) per share:
Basic	$	5.76	$	5.76	$	0.16	$	0.16	$	(1.67)	$	(1.67)
Diluted	$	5.53	$	5.53	$	0.15	$	0.15	$	(1.67)	$	(1.67)

The following common stock equivalents were excluded from the calculation of diluted net income (loss) per share attributable to common stockholders because their inclusion would have been anti-dilutive:


	June 30, 2026	June 30, 2025	June 30, 2024
Common stock warrants	8,823,185	7,302,216	5,700,587
Restricted stock units	660,711	664,243	18,327,420
Stock options	167,711	905,835	16,794,697


Employee stock purchase plan shares	142,124	157,615	216,846
Total	9,793,731	9,029,909	41,039,550