Net loss per share is allocated based on the contractual participation rights of the Class A and Class B common shares as if the loss for the year has been distributed. As the liquidation and dividend rights are identical, the net loss is allocated on a proportionate basis.

A reconciliation of the denominator used in the calculation of basic and diluted loss per share is as follows (in thousands, except share and per share data):


	Three months ended
	June 30, 2025				June 30, 2024
	Class A		Class B		Class A		Class B
Numerator
Net loss	$	(18,070)	$	(1,330)	$	(16,325)	$	(1,223)

Denominator
Weighted-average common shares outstanding - basic and diluted	52,231,140		3,845,583		51,331,579		3,845,583
Basic and diluted net loss per share	$	(0.35)	$	(0.35)	$	(0.32)	$	(0.32)


	Six months ended
	June 30, 2025				June 30, 2024
	Class A		Class B		Class A		Class B
Numerator
Net loss	$	(37,978)	$	(2,793)	$	(27,193)	$	(2,042)

Denominator
Weighted-average common shares outstanding - basic and diluted	52,287,703		3,845,583		51,200,924		3,845,583
Basic and diluted net loss per share	$	(0.73)	$	(0.73)	$	(0.53)	$	(0.53)

The anti-dilutive securities excluded from the weighted-average shares used to calculate the diluted net loss per common share were as follows:


	As of
	June 30, 2025	June 30, 2024
Shares subject to outstanding common stock options	725,459	1,174,354
Shares subject to unvested restricted stock units and performance restricted stock units	3,180,310	2,505,323
Shares issuable pursuant to the ESPP	89,499	96,271
Shares underlying our convertible senior notes	6,132,025	6,132,025