v3.26.3
Net Income per Share
9 Months Ended
Sep. 30, 2026
Earnings Per Share [Abstract]  
Net Income per Share Net Income per Share
Basic net income per share attributable to common stockholders is computed by dividing the net income attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted
net income attributable to common stockholders is computed by adjusting net income attributable to common stockholders to reallocate undistributed earnings based on the potential impact of dilutive securities. Diluted net income per share attributable to common stockholders is computed by dividing the diluted net income attributable to common stockholders by the weighted-average number of common shares outstanding, including all potentially dilutive common shares, if the effect of such shares is dilutive. The dilutive effect of outstanding equity incentive awards is reflected in diluted net income per share by application of the treasury stock method.
In periods in which the Company reports a net loss attributable to common stockholders, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders, since dilutive common shares are not assumed to have been issued if their effect is anti-dilutive.
The rights, including the liquidation and dividend rights, of the voting and non-voting common stock are identical, except with respect to voting rights. As the liquidation and dividend rights are identical, the undistributed earnings are allocated on a proportionate basis to each class of common stock and the resulting basic and diluted net income per share attributable to common stockholders are, therefore, the same for both voting and non-voting common stock on both individual and combined basis.
Basic and diluted net income per share attributable to common stockholders was calculated as follows (in thousands, except share and per share amounts):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Numerator:
Net income$74,543 $29,631 $78,914 $13,464 
Net income attributable to common stockholders – basic and diluted$74,543 $29,631 $78,914 $13,464 
Denominator:
Weighted average common shares outstanding – basic121,956,220122,434,615122,177,966122,504,476
Effect of potentially dilutive stock options2,585,9392,915,4032,621,9663,118,924
Effect of potentially dilutive restricted stock units5,160,9672,325,5954,202,2761,871,777
Weighted average common shares outstanding – diluted129,703,126127,675,613129,002,208127,495,177
Net income per share:
Net income per share attributable to common stockholders – basic$0.61 $0.24 $0.65 $0.11 
Net income per share attributable to common stockholders – diluted$0.57 $0.23 $0.61 $0.11 
Outstanding potentially dilutive securities, which were excluded from the diluted net income per share calculations because they would have been antidilutive were as follows as of the dates presented:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Unvested restricted stock units429,7311,393,2331,149,4711,414,188
Stock options to purchase common stock1,315,9033,191,3781,729,0543,778,630
Employee stock purchase plan shares—35,30590,28935,305
1,745,6344,619,9162,968,8145,228,123