Net loss per share is calculated in accordance with ASC 260, Earnings Per Share. Basic loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period.

For the three months ended March 31, 2026 and 2025, the Company recorded a net loss and as such, all potentially dilutive securities were excluded from the computation of net loss per diluted share of common stock, as their inclusion would have been anti-dilutive. The following table presents the total potential anti-dilutive securities excluded:


	Three Months Ended March 31,
		2026	2025
Warrants		—	324,375
Restricted stock units		13,447,900	8,856,663
Performance-based restricted stock units (1)		21,846,716	13,484,103
Convertible Notes (2)		49,355,929	82,106,952

Total anti-dilutive shares		84,650,545	104,772,093

(1) Anti-dilutive performance-based restricted stock units are presented up to 249% as the maximum potential number of shares that may vest. Refer to Note 12 – Stock-based Compensation, for further information.

The following table sets forth the computation of basic and diluted loss per share:


	Three Months Ended March 31,
(in thousands, except share and per share data)		2026		2025
Basic and diluted earnings per share of common stock:
Net loss attributable to common stockholders		$	(1,259,619)	$	(533,199)
Weighted average shares of common stock		380,157,050		344,098,009
Net loss per share of common stock		$	(3.31)	$	(1.55)