v3.24.3
Basic and Diluted Net Income (Loss) per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Basic and Diluted Net Income (Loss) per Share Basic and Diluted Net Income (Loss) per Share
The Company uses the two-class method to calculate net income (loss) per share. No dividends were declared or paid for the three and nine months ended September 30, 2024 and 2023. Undistributed earnings for each period are allocated equally to participating securities based on the contractual participation rights of the security to share in the current earnings as if all current period earnings had been distributed. The Company’s basic net income (loss) per share is computed by dividing the net income (loss) attributable to common stockholders by the weighted average shares of common stock outstanding during the period. The Company’s diluted net income (loss) per share is computed by dividing the net income (loss) attributable to common stockholders by the weighted average shares of common stock outstanding and, when dilutive, potential common shares outstanding during the period. The dilutive effect of potential common shares is reflected in diluted net income (loss) per share by application of the treasury stock method.
 
The following table sets forth the computation of the Company’s basic and diluted net income (loss) per share attributable to common stockholders for the three and nine months ended September 30 (in thousands, except share and per share amounts):
 
Three Months Ended September 30,Nine Months Ended September 30,
 2024202320242023
 Class AClass VClass AClass VClass AClass VClass AClass V
Numerator:
Net income (loss) attributable to common stockholders, basic$72,665 $2,923 $(7,265)$(302)$96,114 $3,899 $(23,795)$(996)
Reallocation of undistributed earnings229 (229)— — 305 (305)— — 
Net income (loss) attributable to common stockholders, diluted72,894 2,694 (7,265)(302)96,419 3,594 (23,795)(996)
Denominator:
Weighted average shares outstanding, basic208,239,520 8,377,623 201,757,058 8,377,623 206,524,417 8,377,623 200,199,280 8,377,623 
Effect of dilutive potential common shares18,452,396 — — — 18,247,722 — — — 
Weighted average shares outstanding, diluted226,691,916 8,377,623 201,757,058 8,377,623 224,772,139 8,377,623 200,199,280 8,377,623 
Basic net income (loss) per share$0.35 $0.35 $(0.04)$(0.04)$0.47 $0.47 $(0.12)$(0.12)
Diluted net income (loss) per share$0.32 $0.32 $(0.04)$(0.04)$0.43 $0.43 $(0.12)$(0.12)

Basic net loss per share is the same as diluted net loss per share attributable to common stockholders for the three and nine months ended September 30, 2023, because the inclusion of potential shares of common stock would have been anti-dilutive for the periods presented.

The following table discloses weighted-average Class A securities that were not included in the computation of diluted net income (loss) per share as their inclusion would have been anti-dilutive:

Three Months Ended September 30,Nine Months Ended September 30,
2024202320242023
RSUs237,328 15,506,487 5,727,897 15,270,027 
Stock options62,276 21,114,274 876,877 21,452,808 
PRSUs— 1,104,301 — 869,445 
Common stock issued subject to vesting— 985,410 — 1,213,888 
Common stock issuable under the ESPP— 878,020 — 753,499 
Warrants to purchase Class A common stock— 561,058 — 561,058 

There were no Class V securities that were excluded in the computation of diluted net income (loss) per share for the periods presented.