The following table presents the calculation of basic and diluted net loss per share (in thousands, except share and per share data):


	Three Months Ended March 31,
	2025			2024
	Class A and Class B Common Stock
Numerator:
Net loss	$	(67,574	)	$	(92,967	)
Denominator:
Weighted-average shares used to compute net loss per share, basic and diluted		335,755,902			314,203,181
Net loss per share, basic and diluted	$	(0.20	)	$	(0.30	)

The following outstanding potentially dilutive shares were excluded from the computation of diluted net loss per share attributable to the Company’s Class A and Class B common stockholders for the periods presented because the impact of including them would have been anti-dilutive:


	March 31, 2025		March 31, 2024
Stock options		20,754,102		28,714,167
Unvested restricted common stock and early exercised stock options		397,440		99,707
RSUs		26,076,807		24,661,042
ESPP		613,771		546,936
Shares issuable upon conversion of the 2027 Notes		10,992,960		10,992,960
Total		58,835,080		65,014,812

The Company calculates the potential dilutive effect of its 2027 Notes under the if-converted method. Under this method, diluted net loss per share is determined by assuming that all of the 2027 Notes were converted into shares of the Company’s Class A common stock at the beginning of the reporting period.

In connection with the issuance of the 2027 Notes, the Company entered into Capped Calls, which are not included for purposes of calculating the number of diluted weighted-average shares outstanding, as their effect would have been anti-dilutive. The Capped Calls are expected to partially offset the potential dilution to the Company’s Class A common stock upon any conversion of the 2027 Notes.