| Net Income (Loss) per Share Attributable to Common Stockholders |
Net Income (Loss) per Share Attributable to Common Stockholders We compute net income (loss) per share using the two-class method. Basic net income (loss) per share is computed using the weighted-average number of shares outstanding during the period. Diluted net income per share is computed using the weighted-average number of shares and the effect of potentially dilutive securities outstanding during the period. Potentially dilutive securities consist of restricted stock units, stock options and employee stock purchase plan rights. The dilutive effect of these shares is reflected in diluted earnings per share by application of the treasury stock method. The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data):
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
Basic net income (loss) per share: |
2023 |
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2022 |
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2023 |
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2022 |
| Numerator: |
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Net Income (loss) attributable to common stockholders |
$ |
1,525 |
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$ |
(79,206) |
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$ |
(397,947) |
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$ |
(191,099) |
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| Denominator: |
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Basic weighted-average shares outstanding |
672,559,810 |
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583,970,409 |
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638,388,011 |
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581,458,391 |
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Basic net income (loss) per share attributable to common stockholders |
$ |
0.00 |
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$ |
(0.14) |
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$ |
(0.62) |
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$ |
(0.33) |
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Diluted net income (loss) per share: |
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Numerator |
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Net Income (loss) attributable to common stockholders |
$ |
1,525 |
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$ |
(79,206) |
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$ |
(397,947) |
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$ |
(191,099) |
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| Less: |
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Income attributable to participating securities(1)
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$ |
(46) |
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— |
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— |
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— |
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| Diluted net income (loss) attributable to common stockholders |
1,479 |
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(79,206) |
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(397,947) |
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(191,099) |
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| Denominator: |
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| Number of shares used in basic net income (loss) per share computation |
672,559,810 |
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— |
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583,970,409 |
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— |
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638,388,011 |
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— |
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581,458,391 |
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| Weighted-average dilutive securities |
18,895,352 |
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— |
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— |
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— |
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— |
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| Diluted weighted-average common stock outstanding |
691,455,162 |
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583,970,409 |
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638,388,011 |
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581,458,391 |
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| Diluted net income (loss) per share attributable to common stockholders |
$ |
0.00 |
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$ |
(0.14) |
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$ |
(0.62) |
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$ |
(0.33) |
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(1) Participating securities include Earnout shares, unvested early exercised options and unvested restricted stock awards.
The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net income (loss) per share attributable to common stockholders for the periods presented because including them would have been antidilutive:
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Three Months Ended
September 30, |
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Nine Months Ended
September 30, |
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2023 |
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2023 |
| Common stock warrants |
28,783,333 |
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28,783,333 |
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| Unvested restricted stock units |
3,596,979 |
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29,342,561 |
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| Options to purchase common stock and unvested restricted stock awards |
3,959,867 |
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18,216,147 |
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| ESPP |
— |
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1,042,062 |
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| Total |
36,340,179 |
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77,384,103 |
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Three and Nine Months Ended September 30, 2022 |
| Common stock warrants |
28,783,333 |
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| Unvested restricted stock units |
23,201,266 |
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| Options to purchase common stock and unvested restricted stock awards |
25,145,381 |
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| Earnout Shares |
17,130,000 |
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| Total |
94,259,980 |
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