v3.25.3
Net Income Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Net Income Per Share
Note 4—Net Income Per Share
The following table presents the calculation of basic and diluted net income per share for the periods presented (in thousands, except per share amounts):
 Three Months Ended 
 September 30,		Nine Months Ended 
 September 30,
 2025202420252024
Numerator:
Net income$75,503 $57,366 $52,247 $173,375 
Add back interest expense, net of tax attributable to assumed conversion of convertible senior notes (1)3,333 1,585 2,260 4,755 
Net income attributable to common stockholders—diluted$78,836 $58,951 $54,507 $178,130 
Denominator:
Weighted-average common shares outstanding—basic99,334 114,181 103,660 116,372 
Dilutive effect of outstanding stock-based compensation awards2,750 1,853 2,452 2,030 
Dilutive effect of assumed conversion of convertible senior notes (1)22,873 14,714 10,662 14,714 
Weighted-average common shares outstanding—diluted124,957 130,748 116,774 133,116 
Net income per share attributable to common stockholders—basic$0.76 $0.50 $0.50 $1.49 
Net income per share attributable to common stockholders—diluted$0.63 $0.45 $0.47 $1.34 
The following potentially issuable common shares were excluded from the calculation of diluted net income per share attributable to common stockholders because their effect would have been anti-dilutive for the periods presented (in thousands):
 Three Months Ended 
 September 30,		Nine Months Ended 
 September 30,
 2025202420252024
Stock-based compensation awards3,831 7,655 4,086 7,446 
Convertible senior notes (1)— — 12,212 — 
Total anti-dilutive securities3,831 7,655 16,298 7,446 
(1)The $700.0 million aggregate principal amount of 1.00% Convertible Senior Notes due 2030 (the “2025 Notes”), the $1.0 billion aggregate principal amount of 0.25% Convertible Senior Notes due 2028 (the “2021 Notes”), the $650.0 million aggregate principal amount of 0.125% Convertible Senior Notes due 2027 (the “2020 Notes”), and the $649.9 million aggregate principal amount of 0.125% Convertible Senior Notes due 2026 (the “2019 Notes” and, together with the 2025 Notes, 2021 Notes and 2020 Notes, the “Notes”) were dilutive for the three months ended September 30, 2025. The 2020 Notes and 2019 Notes were dilutive, while the 2025 Notes and 2021 Notes were anti-dilutive, for the nine months ended September 30, 2025.