We compute net income (loss) per share of Class A and Class B common stock using the two-class method required for multiple classes of common stock and participating securities. Prior to the IPO, our participating securities included Series A, Series A-1, Series B, Series C, Series D, Series D-1, Series E, Series F, and Series F-1 convertible preferred stock, as the holders of these series of preferred stock were entitled to receive noncumulative dividends subject to certain requirements at an annual rate of 8% of the respective original issue price then in effect in the event that a dividend was paid on common stock.

In connection with our IPO, our Series A, Series A-1, Series B, Series C, Series D, Series D-1, Series E, and Series F preferred stock converted on a one-to-one basis into 67,917,432 shares of Class B common stock, and our Series F-1 preferred stock converted on a one-to-one basis into 5,104,017 shares of Class A common stock. These shares are weighted in the denominator of net income (loss) per share for Class A and Class B common stock for the portion of the time outstanding subsequent to our IPO.

The holders of Series A, Series A-1, Series B, Series C, Series D, Series D-1, Series E, Series F, and Series F-1 convertible preferred stock did not have a contractual obligation to share in our losses. As such, our net losses for the three and nine months ended September 30, 2023 were not allocated to these participating securities.


	Three months ended September 30,							Nine months ended September 30,
	2024				2023					2024			2023
	Class A		Class B			Class A		Class B			Class A			Class B		Class A		Class B
	(in thousands, except share and per share data)
Basic net income (loss) per share attributable to common stockholders:
Numerator:
Net income (loss) attributable to common stockholders	$	16,782	$	13,071		$	(922)	$	(6,461)		$	(214,623)		$	(340,689)	$	(13,149)	$	(96,209)
Denominator:
Basic weighted-average common shares outstanding	95,100,497		74,069,425			7,346,923		51,508,666			52,069,654			82,654,238		7,033,315		51,462,229
Basic income (loss) per share attributable to common stockholders:	$	0.18	$	0.18		$	(0.13)	$	(0.13)		$	(4.12)		$	(4.12)	$	(1.87)	$	(1.87)
Diluted net income (loss) per share attributable to common stockholders:
Numerator:
Net income (loss) attributable to common stockholders	$	18,356	$	11,497		$	(922)	$	(6,461)		$	(214,623)		$	(340,689)	$	(13,149)	$	(96,209)
Denominator:
Basic weighted-average common shares outstanding	95,100,497		74,069,425			7,346,923		51,508,666			52,069,654			82,654,238		7,033,315		51,462,229
Weighted-average effect of dilutive potential common stock	23,152,994		—			—		—			—			—		—		—
Shares used in computation of diluted net income (loss) per share attributable to common stockholders	118,253,491		74,069,425			7,346,923		51,508,666			52,069,654			82,654,238		7,033,315		51,462,229
Diluted net income (loss) per share attributable to common stockholders	$	0.16	$	0.16		$	(0.13)	$	(0.13)		$	(4.12)		$	(4.12)	$	(1.87)	$	(1.87)

The following outstanding potentially dilutive shares, including stock options that have been exercised prior to vesting, were excluded from the computation of diluted net income (loss) per share attributable to common stock for the periods presented because the impact of including them would have been anti-dilutive.