Basic and Diluted Net Loss Per Common Share (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Calculation of Basic and Diluted Net Loss Per Share

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


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Basic and diluted net loss per share
Numerator
Consolidated net loss	$	(279,800)	$	(207,195)	$	(496,140)	$	(479,115)
Less: net loss attributable to noncontrolling interest	(1,425)		(1,312)		(2,709)		(2,628)
Net loss attributable to common stockholders	$	(278,375)	$	(205,883)	$	(493,431)	$	(476,487)
Denominator
Weighted-average common shares used in computing net loss per share attributable to common stockholders, based and diluted	684,837		642,814		678,307		638,917
Net loss per share attributable to common stockholders, basic and diluted	$	(0.41)	$	(0.32)	$	(0.73)	$	(0.75)

Schedule of Antidilutive Securities

The potential shares of common stock that were excluded from the computation of diluted net loss per share because including them would have been anti-dilutive are as follows (in thousands):


	As of June 30,
	2025	2024
Stock options outstanding	13,086	35,718
RSUs outstanding	31,296	37,702
2020 ESPP	822	2,123
PSU awards based on performance target achievement at period-end(1)	383	49
Other awards and warrants outstanding or unreleased	335	363
Total	45,922	75,955

(1)Represents the actual or hypothetical number of unvested shares earned under the Company’s PSU awards, based on actual performance as of the respective balance sheet date.