Net Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2023

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Net Income (Loss) Per Share

The following table presents the computation of basic and diluted net income (loss) per share (in thousands, except per share amounts):

	Years Ended December 31,
	2023		2022		2021
Basic
Numerator:
Net income (loss)	$	18,180	$	266,638	$	(1,458)
Denominator:
Weighted average shares used to compute net income (loss) per share, basic	116,504		127,557		141,262
Net income (loss) per share, basic	$	0.16	$	2.09	$	(0.01)
Diluted
Numerator:
Net income (loss)	$	18,180	$	266,638	$	(1,458)
Convertible senior notes activity, net of tax(1)	(61,694)		(65,444)		—
Net income (loss), diluted	$	(43,514)	$	201,194	$	(1,458)
Denominator:
Weighted average shares used to compute net income (loss) per share, basic	116,504		127,557		141,262
Shares related to stock plan activity	—		968		—
Shares related to convertible senior notes	12,065		21,334		—
Weighted average shares used to compute net income (loss) per share, diluted	128,569		149,859		141,262
Net income (loss) per share, diluted	$	(0.34)	$	1.34	$	(0.01)

(1) Primarily includes the gain on early extinguishment on our notes, net of tax. For further information, see Note 8, “Convertible Senior Notes.”

Schedule of Common Shares Outstanding Excluded from Computation of Diluted Net Income (Loss) Per Share

The following table presents potential weighted-average shares of common stock outstanding that were excluded from the computation of diluted net income (loss) per share because including them would have been anti-dilutive (in thousands):

	Years Ended December 31,
	2023	2022	2021
Shares related to stock plan activity	8,442	3,556	2,545
Shares related to convertible senior notes	—	—	23,300
Total common stock equivalents	8,442	3,556	25,845