Net Loss Per Share Attributable to Common Stockholders (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Summary of Computation of Basic and Diluted Net Loss per Share Attributable to Common Stockholders

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the three months ended March 31, 2026 and 2025 (in thousands, except share and per share amounts):


		Three Months Ended March 31,
		2026				2025
Numerator:
Net loss		$	(82,958	)		$	(68,243	)
Impact of preferred stock extinguishments and modifications			—				(6,300	)
Net loss attributable to common stockholders		$	(82,958	)		$	(74,543	)
Denominator:
Weighted-average common shares outstanding			33,701,800				2,869,926
Less: Weighted-average common shares subject to repurchase			(1,250	)			(99,574	)
Weighted-average common shares outstanding, basic and diluted			33,700,550				2,770,352
Net loss per share attributable to common stockholders, basic and diluted		$	(2.46	)		$	(26.91	)

Schedule of Outstanding Common Stock Equivalents Excluded from Diluted Net Loss Per Share

The following outstanding common stock equivalents have been excluded from diluted net loss per share attributable to common stockholders for the three months ended March 31, 2026 and 2025 because their inclusion would be anti-dilutive:


		March 31,
		2026				2025
Options to purchase common stock			7,522,330				2,904,399
Early exercised stock options and unvested restricted common stock			862				63,487
Warrants to purchase common stock			739,559				739,559
Redeemable convertible preferred stock			—				29,855,741
Total common stock equivalents			8,262,751				33,563,186