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NET (LOSS) INCOME PER SHARE
12 Months Ended
Dec. 31, 2022
Earnings Per Share [Abstract]  
NET (LOSS) INCOME PER SHARE NET (LOSS) INCOME PER SHARE
The computation of net (loss) income per share is as follows (in thousands, except per share amounts):
Year Ended December 31,
202220212020
Basic net (loss) income per share:
Numerator
Net (loss) income$(2,624,949)$3,624,120 $322,317 
Less: Income allocated to participating securities— (527,162)(214,061)
Net (loss) income attributable to common stockholders, basic$(2,624,949)$3,096,958 $108,256 
Denominator
Weighted-average shares of common stock used to compute net (loss) income per share attributable to common stockholders, basic222,314 177,319 68,671 
Net (loss) income per share attributable to common stockholders, basic$(11.81)$17.47 $1.58 
Diluted net (loss) income per share:
Numerator
Net (loss) income$(2,624,949)$3,624,120 $322,317 
Less: Income allocated to participating securities— (439,229)(194,846)
Add: Interest on convertible notes, net of tax— 6,208 — 
Less: Fair value gain on contingent consideration arrangement, net of tax (6,230)(695)— 
Net (loss) income attributable to common stockholders, diluted$(2,631,179)$3,190,404 $127,471 
Denominator
Weighted-average shares of common stock used to compute net (loss) income per share attributable to common stockholders, basic222,314 177,319 68,671 
Weighted-average effect of potentially dilutive securities:
Stock options— 36,396 22,146 
RSUs— 3,773 — 
Restricted common stock— 9 — 
Warrants— 72 392 
Convertible notes— 2,388 — 
Contingent consideration24 8 — 
Weighted-average shares of common stock used to compute net (loss) income per share attributable to common stockholders, diluted222,338 219,965 91,209 
Net (loss) income per share attributable to common stockholders, diluted$(11.83)$14.50 $1.40 
Certain shares of the Company’s restricted Class A common stock granted as consideration in acquisitions and the Company’s convertible preferred stock outstanding during 2021 are participating securities. These participating securities do not contractually require the holders of such shares to participate in the Company’s losses.
The rights, including the liquidation and dividend rights, of the holders of Class A common stock and Class B common stock are identical, except with respect to voting. As a result, the undistributed earnings are allocated on a proportionate basis and the resulting income (loss) per share will, therefore, be the same for both Class A common stock and Class B common stock on an individual or combined basis.
The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive (in thousands):
Year Ended December 31,
2022 20212020
Stock options31,795 6,134 12,831 
RSUs5,329 151 3,766 
Convertible notes3,880 — — 
Restricted common stock1,602 5 — 
ESPP1,945 295 — 
Total44,551 6,585 16,597