Net Income (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2021

Summary of Calculation of Basic and Diluted Net Loss Per Share

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, 2021		March 31, 2020
Numerator:
Net income (loss)	$	76,296	$	(54,612	)
Denominator:
Weighted-average common shares outstanding — basic		129,674		120,180
Net income (loss) per share — basic	$	0.59	$	(0.45	)

Weighted-average common shares outstanding — basic		129,674		120,180
Common stock equivalents		10,654		—
Weighted-average common shares outstanding — diluted		140,328		120,180
Net income (loss) per share — diluted	$	0.54	$	(0.45	)

Schedule of Antidilutive Securities Excluded from Calculation of Diluted Net Income or Net Loss Per Share

Common shares excluded from the calculation of diluted net income or excluded from the calculation of diluted net loss per share because of their anti-dilutive effect are as follows (in thousands):

	Three Months Ended
	March 31, 2021		March 31, 2020
Restricted stock units and stock options		74		15,227
Unvested shares of common stock issued upon early exercise of stock options		—		19
Total		74		15,246