The following table summarizes the computation of basic and diluted net loss per share:


	Year Ended December 31,
	2025			2024
	(in thousands, except per share amounts)
Numerator:
Net loss	$	(236,928	)	$	(243,787	)
Denominator:
Weighted-average common shares outstanding, basic and diluted		163,391			159,377
Net loss per share, basic and diluted	$	(1.45	)	$	(1.53	)

The following outstanding potentially dilutive common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive:


	December 31,
	2025		2024
	(in thousands)
Common stock options and restricted stock units		24,551		15,814
Early exercised stock options subject to future vesting		5		33
Unvested restricted stock awards		71		371
Employee stock purchase plan		45		10
Term loan conversion election		7,941		—
Total		32,613		16,228