The Company computes net loss per share of Common Stock, Series A Convertible Preferred Stock, and Series B Convertible Preferred Stock using the two-class method required for multiple classes of common stock and other participating securities. The two-class method is an earnings (loss) allocation method under which earnings (loss) per share is calculated for each class of common stock. The Company has determined that the Series A Convertible Preferred Stock and Series B Convertible Preferred Stock do not have preferential rights when compared to the Company's Common Stock and therefore it must allocate losses to these other classes of stock, as illustrated in the table below.

Basic and diluted net loss per share is computed by dividing the allocated net loss to each share class by the weighted-average number of shares outstanding during the period. For periods in which the Company generated a net loss, the Company does not include potential shares of common stock in diluted net loss per shares when the impact of these items is anti-dilutive. The Company has generated a net loss for all periods presented, therefore diluted net loss per share is the same as basic net loss per share since the inclusion of potential shares common stock would be antidilutive.

The following table sets forth the computation of basic and diluted net loss per share of Common Stock, Series A Convertible Preferred Stock, and Series B Convertible Preferred Stock (in thousands, except share and per share amounts):


	Three Months Ended March 31, 2025
	Series A Convertible Preferred Stock		Series B Convertible Preferred Stock		Common Stock
Net loss per share, basic and diluted:
Numerator
Allocation of losses	$	(7,814)	$	(8,410)	$	(70,688)
Denominator
Weighted-average shares outstanding	134,864		145,160		81,344,134
Net loss per share, basic and diluted	$	(57.94)	$	(57.94)	$	(0.87)


	Three Months Ended March 31, 2024
	Series A Convertible Preferred Stock		Series B Convertible Preferred Stock		Common Stock
Net loss per share, basic and diluted:
Numerator
Allocation of losses	$	(6,731)	$	(5,661)	$	(36,150)
Denominator
Weighted-average shares outstanding	170,621		143,522		61,099,038
Net loss per share, basic and diluted	$	(39.45)	$	(39.44)	$	(0.59)

There are no potentially dilutive securities to Series A Convertible Preferred Stock or Series B Convertible Preferred Stock. Potentially dilutive securities to the Common Stock include the following:


	March 31,
	2025	2024

Series A Preferred Stock (as converted to shares of common stock)	8,991,383	10,496,191
Series B Preferred Stock (as converted to shares of common stock)	9,677,817	9,568,612
Options to purchase common stock	14,124,083	10,319,573
Warrants to purchase common stock	30,227	249,883
Restricted stock units	1,128,506	669,096
Total	33,952,016	31,303,355