v3.26.1
Net Loss per Share
3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
Net Loss per Share
12.
Net Loss per Share

Basic and diluted net loss per share attributable to the holders of Class A Common Stock is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of Class A Common Stock outstanding during the period.

 

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted net loss per share of Class A Common Stock (in thousands, except share and per share data):

 

 

 

For the Three Months ended
March 31,

 

 

 

2026

 

 

2025

 

Numerator

 

 

 

 

 

 

Net loss before allocation to noncontrolling interest

 

$

(249,581

)

 

$

(63,628

)

Net loss attributable to noncontrolling interest

 

 

(58,569

)

 

 

(17,922

)

Net loss attributable to common stockholders - basic and diluted

 

$

(191,012

)

 

$

(45,706

)

Denominator

 

 

 

 

 

 

Weighted-average number of shares of Class A Common Stock outstanding - basic and diluted

 

 

290,689,457

 

 

 

223,974,396

 

Net loss per share attributable to holders of Class A Common Stock - basic and diluted

 

$

(0.66

)

 

$

(0.20

)

As of March 31, 2026, the Company excluded from the calculation of diluted earnings per share 11,215,111 shares of Class B Common Stock, 78,163,078 shares of Class C Common Stock, and 12,653,522 shares of Class A Common Stock that may be issued pursuant to awards outstanding under the AST LLC Incentive Plan, the 2020 Plan and the 2024 Plan, and 25,824,820 shares of Class A Common Stock issuable upon conversion of the 2032 4.25% Convertible Notes, the 2032 2.375% Convertible Notes, the 2036 2.00% Convertible Notes, and the 2036 2.25% Convertible Notes (on an as-converted basis) as their effect would have been to reduce the net loss per share. Therefore,

the weighted-average number of shares of Class A Common Stock outstanding used to calculate both basic and diluted net loss per share of Class A Common Stock is the same.

 

Shares of the Class B Common Stock and Class C Common Stock do not participate in the earnings or losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class B Common Stock and Class C Common Stock under the two-class method has not been presented.