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Net Income (Loss) Per Share
3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Net Income (Loss) Per Share NET INCOME (LOSS) PER SHARE
The Company’s basic net income (loss) per share is calculated by dividing the net income (loss) by the weighted-average number of shares of common stock outstanding for the period. The Company uses the two-class method to calculate net income (loss) per share. Except with respect to certain voting, conversion, and transfer rights and as otherwise expressly provided in the Company’s amended and restated certificate of incorporation or required by applicable law, shares of the Company’s Class A common stock and Class B common stock have the same rights and privileges and rank equally, share ratably, and are identical in all respects as to all matters. Accordingly, basic and diluted net income (loss) per share are the same for both classes.
For purposes of the calculation of diluted net income (loss) per share, options to purchase common stock and restricted stock units are considered common stock equivalents. Dilutive shares of common stock are determined by applying the treasury stock method. The dilutive shares are excluded from the calculation of diluted net loss per share in the period of net loss, as their effect is antidilutive.
The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except per share data):
 Three Months Ended
 March 31, 2022March 31, 2021
Numerator:
Net income (loss)$(26,306)$76,296 
Denominator:
Basic net income (loss) per share:
Weighted-average common shares outstanding — basic135,539129,674
Net income (loss) per share — basic$(0.19)$0.59 
Diluted net income (loss) per share:
Weighted-average common shares outstanding — basic135,539129,674
Effect of potentially dilutive securities:
Restricted stock units— 3,411
Stock options— 7,243
Weighted-average common shares outstanding — diluted135,539140,328
Net income (loss) per share — diluted$(0.19)$0.54 
For the three months ended March 31, 2022 and 2021 equity awards to purchase 12.3 million shares of common stock and 0.1 million shares of common stock, respectively, are excluded from the calculation of diluted net income (loss) per share because of their anti-dilutive effect.