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)
 6 Months Ended
Jun. 30, 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
June 30,		 Six Months Ended
June 30,
2026 2025 2026 2025
Numerator:
Net loss attributable to common stockholders $ (245,443) $ (324,674) $ (355,393) $ (407,080)
Denominator:
Weighted-average shares outstanding 969,905,441  796,798,437  956,777,375  781,936,215 
Net loss per share attributable to common stockholders, basic and diluted $ (0.25) $ (0.41) $ (0.37) $ (0.52)
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:
June 30, 2026 June 30, 2025
Common stock warrants 14,237,486  28,783,033 
Unvested restricted stock awards 445,997  891,993 
Unvested restricted stock units
 55,885,904  41,749,976 
Options to purchase common stock 5,270,349  7,774,839 
Unvested early exercised common stock options 533,278  885,913 
If-converted common stock from 2032 Notes (1)
48,634,374  — 
Total 125,007,388  80,085,754 
(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.