Net Loss per Share (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Numerators and Denominators of Basic and Diluted Net Loss per Share Computations for Common Stock

The numerators and denominators of the basic and diluted net loss per share computations for our common stock are calculated as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025

	(in thousands, except per share data)
Numerator:
Net loss	$	(163,960)	$	(262,570)	$	(252,911)	$	(402,157)
Denominator:
Weighted-average common shares - Basic (1)	1,663,449		1,674,854		1,675,483		1,685,544
Weighted-average common shares - Diluted (1)	1,663,449		1,674,854		1,675,483		1,685,544
Net loss per share:
Basic	$	(0.10)	$	(0.16)	$	(0.15)	$	(0.24)
Diluted	$	(0.10)	$	(0.16)	$	(0.15)	$	(0.24)

(1)Includes 1,409 million and 1,421 million shares of Class A common stock for the three months ended June 30, 2026 and 2025, respectively; and 1,421 million and 1,431 million shares of Class A common stock for the six months ended June 30, 2026 and 2025, respectively. Includes 23 million shares of Class B common stock and 232 million shares of Class C common stock for each of the periods presented.

Schedule of Potentially Dilutive Shares Excluded from Calculation of Diluted Net Loss per Share

The following potentially dilutive shares were excluded from the calculation of diluted net loss per share because their effect would have been anti-dilutive:


	As of June 30,
	2026	2025

	(in thousands)
Stock options	474	583
Unvested RSUs and RSAs	204,773	143,318
Convertible Notes (if-converted)	46,193	59,154