The rights of the holders of the Company’s Class A common stock and Class B common stock are identical, except with respect to voting and conversion. As the liquidation and dividend rights are identical, basic and diluted net (loss) income per share are the same for Class A common stock and Class B common stock.

Basic and diluted net (loss) income per share is calculated as follows (in thousands, except share and per share amounts):


	Three months ended March 31,
	2026		2025
Numerator:
Net (loss) income	$	(10,322)	$	555
Denominator:
Weighted average shares of common stock outstanding, basic	24,145,066		30,779,430
Plus: dilutive effect of stock options	—		2,168,633
Plus: dilutive effect of RSUs	—		255,456
Plus: dilutive effect of ESPP	—		15,298
Weighted average common shares outstanding, diluted	24,145,066		33,218,817
Net (loss) income per share, basic	$	(0.43)	$	0.02
Net (loss) income per share, diluted	$	(0.43)	$	0.02

As the Company incurred a net loss during the three months ended March 31, 2026, basic net loss per share is equivalent to diluted net loss per share as the inclusion of all potentially dilutive securities outstanding would have been antidilutive.

The following potentially dilutive common shares, presented based on amounts outstanding, were excluded from the computation of diluted net (loss) income per share because their effect would have been antidilutive for the periods presented:


	Three months ended March 31,
	2026	2025
Stock options	2,456,717	—
RSUs	4,601,120	1,090,115
ESPP	75,009	—
Common stock warrant	4,121,034	4,121,034
Total shares excluded from diluted net (loss) income per share	11,253,880	5,211,149