Basic and diluted net loss per share attributable to common stockholders was calculated as follows for the periods presented (in thousands, except share and per share amounts):


	Three months ended March 31,
	2026			2025
Numerator:
Net loss	$	(18,325	)	$	(14,985	)
Net loss attributable to common stockholders, basic and diluted	$	(18,325	)	$	(14,985	)
Denominator:
Weighted-average number of common stock used in net loss per share, basic and diluted		48,630,038			805,821
Net loss per share of common stock, basic and diluted	$	(0.38	)	$	(18.60	)

The Company’s potentially dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of common stock outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same.

As the liquidation and dividend rights are identical for the Company's common stock and Class A common stock, the undistributed earnings are allocated on a proportionate basis and the resulting amount per share for the Company's common stock and Class A common stock was the same for the three months ended March 31, 2026. The Company only had one class of common stock outstanding as of March 31, 2025.

The following outstanding potentially dilutive securities have been excluded from the computation of diluted net loss per share attributable to common stockholders, as including them would have had an anti-dilutive effect:


	Three months ended March 31,
	2026		2025
Preferred Stock		—		34,057,218
Options to purchase common stock		7,651,884		20,396,207
Total		7,651,884		54,453,425