Annual report [Section 13 and 15(d), not S-K Item 405]

Net Loss per Share Attributable to Common Stockholders

v3.25.4
Net Loss per Share Attributable to Common Stockholders
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Net Loss per Share Attributable to Common Stockholders Net Loss per Share Attributable to Common Stockholders
Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period. Because the Company reported a net loss for 2025, 2024 and 2023, the number of shares used to calculate diluted net loss per common share is the same as the number of shares used to calculate basic net loss per common share for those periods presented because the potentially dilutive shares would have been antidilutive if included in the calculation.
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):
Year Ended December 31,
2025 2024 2023
Numerator:
Net loss attributable to common stockholders $ (929,842) $ (608,034) $ (513,050)
Denominator:
Weighted-average shares outstanding 826,240,955  699,794,747  647,907,598 
Net loss per share attributable to common stockholders, basic and diluted $ (1.13) $ (0.87) $ (0.79)
The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been antidilutive:
Year Ended December 31,
2025 2024 2023
Common stock warrants 21,240,957  28,783,069  28,783,333 
Unvested restricted stock awards 668,384  1,114,380  1,561,599 
Unvested restricted stock units 43,582,131  40,388,740  31,076,699 
Unvested early exercised common stock options 708,731  1,154,146  1,988,511 
Options to purchase common stock 6,462,574  9,887,462  13,574,585 
Total 72,662,777  81,327,797  76,984,727