Net Income (Loss) Per Share Attributable to Common Stockholders

9 Months Ended

Sep. 30, 2023

Net Income (Loss) Per Share Attributable to Common Stockholders

The following table sets forth the computation of basic and diluted net income (loss) per common share attributable to common stockholders (in thousands, except per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Numerator:
Net income (loss)	$	10,500	$	(15,472)	$	5,591	$	(27,250)
Denominator:
Weighted-average shares attributable to common stockholders—basic	181,423		182,493		183,126		181,309
Dilutive effect of assumed conversion of stock options and RSUs	11,554		—		10,578		—
Weighted-average shares attributable to common stockholders—diluted	192,977		182,493		193,704		181,309

Net income (loss) per share attributable to common stockholders:
Basic	$	0.06	$	(0.08)	$	0.03	$	(0.15)
Diluted	$	0.05	$	(0.08)	$	0.03	$	(0.15)

The following potentially dilutive shares were not included in the calculation of diluted shares outstanding for the periods presented as the effect would have been anti-dilutive (in thousands):


	Nine Months Ended September 30,
	2023	2022

Outstanding stock options and RSUs	—	23,133



Sponsor earnout shares	—	492
Total	—	23,625

The Sponsor earnout shares noted above represent 492,326 unvested shares beneficially owned by the Sponsor and certain of its affiliates that will not vest until the Class A Common Stock achieves a volume weighted average price greater than or equal to $16.00 over any 20 trading days within any 30 trading day period (“Triggering Event III”) during the earnout period that expires in July 2028 (the “Earnout Period”). The Sponsor earnout shares are excluded from basic and diluted net income (loss) per share as Triggering Event III was not achieved as of September 30, 2023.

In addition, 2,192,687 remaining unvested earnout shares are excluded from basic and diluted net income (loss) per share as such shares are contingently issuable until the Class A Common Stock achieves Triggering Event III during the Earnout Period. This share price was not achieved as of September 30, 2023.