v3.22.1
Net Income (Loss) per Share
3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Net Income (Loss) per Share Net Loss per Share
The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods indicated (in thousands, except per share amounts):

Three Months Ended March 31,
20212022
Net loss attributable to Class A and Class B common stockholders$(1,172,211)$(18,792)
Weighted-average shares in computing net loss per share attributable to Class A and Class B common stockholders, basic and diluted600,960 635,314 
Net loss per share attributable to Class A and Class B common stockholders, basic and diluted$(1.95)$(0.03)

The rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to 20 votes per share. Each share of Class B common stock is convertible into a share of Class A common stock voluntarily at any time by the holder, and automatically upon certain events. The Class A common stock has no conversion rights. As the liquidation and dividend rights are identical for Class A and Class B common stock, the undistributed earnings are allocated on a proportional basis and the resulting net income (loss) per share attributable to common stockholders is the same for both Class A and Class B common stock on an individual or combined basis

There were no preferred dividends declared or accumulated for the three months ended March 31, 2021 and 2022. As of March 31, 2021, RSUs to be settled in 12.0 million shares of Class A common stock were excluded from the table below because they are subject to market conditions that were not achieved as of such date. As of March 31, 2021, 0.5 million shares of restricted stock awards were excluded from the table below because they are subject to performance conditions that were not achieved as of such date. As of March 31, 2022, RSUs to be settled in 9.6 million shares of Class A common stock were excluded from the table below because they are subject to market conditions that were not achieved as of such date. As of March 31, 2022, 0.5 million shares of restricted stock awards were excluded from the table below because they are subject to performance conditions that were not achieved as of such date.
Additionally, the following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive (in thousands):

Three Months Ended March 31,
20212022
2026 Notes(1)
11,086 11,086 
Warrants7,935 7,935 
Escrow shares431 74 
Stock options36,718 23,801 
Restricted stock awards192 105 
Restricted stock units49,440 27,571 
Employee stock purchase plan559 378 
Total106,361 70,950 
(1)Holders of the 2026 Notes who convert their 2026 Notes in connection with certain corporate events that constitute a make-whole fundamental change are entitled to an increase in the conversion rate. The 11.1 million shares represents the maximum number of shares that can be issued upon conversion after considering the make-whole fundamental change adjustment on an unweighted basis.