Basic net loss per share attributable to common stockholders is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period.

Because the Company has reported a net loss for the three months ended March 31, 2026 and 2025, the number of shares used to calculate diluted net loss per share attributable to common stockholders is the same as the number of shares used to calculate basic net loss per share attributable to common stockholders for the period presented because the potentially dilutive shares would have been anti-dilutive if included in the calculation.

In connection with the offering of the 2030 Convertible Notes, the Company entered into Capped Calls that are intended to reduce or offset the potential dilution from shares of common stock issued upon conversion. The impact of the Capped Calls is not included when calculating potentially dilutive shares since their effect is anti-dilutive.

The computation of basic and diluted net loss per share attributable to common stockholders is as follows for the three months ended March 31, 2026 and 2025:


	Three months ended March 31,
(in thousands, except shares and per share amounts)	2026		2025
Net loss	$	(9,963)	$	(7,816)
Weighted-average shares of common stock outstanding - basic and diluted	106,387,125		102,430,673
Net loss per common share - basic and diluted	$	(0.09)	$	(0.08)

The following potential shares of common stock were excluded from diluted net loss per share as the Company had a net loss in each of the periods presented:


	As of March 31,
	2026	2025
Stock options	775,554	1,063,698
Restricted Stock Units	8,906,410	8,276,824
ESPP	191,260	104,466
2030 Convertible Notes	10,511,495	10,511,495
Total anti-dilutive common share equivalents	20,384,719	19,956,483