Net loss per share

3 Months Ended

Mar. 31, 2026

11. Net loss per share

Basic and diluted net loss per share attributable to common stockholders was calculated as follows (dollar amounts in thousands):


	Three Months Ended March 31,
	2026			2025
Numerator:
Net loss	$	(40,591	)	$	(27,270	)
Denominator:
Weighted-average common shares outstanding, basic and diluted		54,332,319			53,617,723
Net loss per share attributable to common stockholders, basic and diluted	$	(0.75	)	$	(0.51	)

The following potentially dilutive securities have been excluded from the calculation of diluted net loss per share due to their anti-dilutive effect:


	As of March 31,
	2026		2025
Anti-dilutive common stock equivalents:
Stock options to purchase common stock		9,000,985		7,927,513
Unvested restricted common stock awards		341,456		—
Total anti-dilutive common stock equivalents		9,342,441		7,927,513