Basic and Diluted Net Loss Per Common Share (Tables)

12 Months Ended

Dec. 31, 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):


	Year ended December 31,
	2025		2024		2023
Basic and diluted net loss per share
Numerator
Consolidated net loss	$	(1,071,618)	$	(940,614)	$	(1,158,937)
Less: net loss attributable to noncontrolling interest	(6,561)		(5,230)		(6,991)
Net loss attributable to common stockholders	$	(1,065,057)	$	(935,384)	$	(1,151,946)
Denominator
Weighted-average common shares used in computing net loss per share attributable to common stockholders, basic and diluted	689,612		647,482		616,445
Net loss per share attributable to common stockholders, basic and diluted	$	(1.54)	$	(1.44)	$	(1.87)

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 December 31,
	2025	2024	2023
Stock options outstanding	9,178	27,458	40,159
RSUs outstanding	24,524	34,941	39,846
2020 ESPP	1,382	1,634	3,347
Other awards(1) and warrants outstanding or unreleased	2,229	740	422
Total	37,313	64,773	83,774

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