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 June 30,				Six Months Ended June 30,
	2025		2024		2025		2024

	Class A and Class B Common Stock				Class A and Class B Common Stock
Numerator:
Net loss	$	(81,950)	$	(89,900)	$	(149,524)	$	(182,867)
Denominator:
Weighted-average shares used to compute net loss per share, basic and diluted	341,208,548		319,415,586		338,491,146		316,809,384
Net loss per share, basic and diluted	$	(0.24)	$	(0.28)	$	(0.44)	$	(0.58)

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:


	June 30, 2025	June 30, 2024
Stock options	19,929,398	26,788,538
Unvested restricted common stock and early exercised stock options	397,436	67,525
RSUs	23,404,419	21,297,536
ESPP	591,215	514,211
Shares issuable upon conversion of the 2027 Notes	10,992,960	10,992,960
Total	55,315,428	59,660,770

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.