Quarterly report [Sections 13 or 15(d)]

Net Loss Per Share Attributable to Common Stockholders (Tables)

v3.26.1
Net Loss Per Share Attributable to Common Stockholders (Tables)
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders
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):
Three Months Ended
March 31,
2026 2025
Numerator:
Net loss attributable to common stockholders $ (109,950) $ (82,406)
Denominator:
Weighted-average shares outstanding 943,503,442  766,908,858 
Net loss per share attributable to common stockholders, basic and diluted $ (0.12) $ (0.11)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
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:
Three Months Ended
March 31,
2026 2025
Common stock warrants 14,237,783  28,783,069 
Unvested restricted stock awards 555,968  1,001,965 
Unvested restricted stock units
 47,541,477  35,457,317 
Options to purchase common stock 5,740,753  9,030,139 
Unvested early exercised common stock options 621,005  995,539 
If-converted common stock from 2032 Notes (1)
48,634,374  — 
Total 117,331,360  75,268,029 
(1) On February 2, 2026, the Company issued $690.0 million in aggregate principal amount of the 2032 Notes (Note 6). The Company applies the if-converted method in computing the effect of the 2032 Notes on diluted net loss per share attributable to common shareholders. The 2032 Notes were not included for purposes of calculating the number of diluted shares outstanding as their effect would have been anti-dilutive. In connection with the issuance of the 2032 Notes, the Company entered into the Capped Call Transactions (Note 9), which were not included for purposes of calculating the number of diluted shares outstanding as their effect would have been anti-dilutive.