Basic net loss per share is computed based on the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed based on the weighted average number of common shares outstanding plus the effect of dilutive potential common shares outstanding during the period using the treasury stock method. During the periods when there is a net loss, potentially dilutive common stock equivalents have been excluded from the calculation of diluted net loss per share as their effect is anti-dilutive. No dividends, including preferred dividends, were declared, paid, or accumulated for the three and six months ended June 30, 2026 or 2025.

The Company uses the two-class method to calculate net loss per share and applies the more dilutive of the two-class method, treasury stock method or if-converted method to calculate diluted net loss per share. Undistributed earnings for each period are allocated to participating securities, based on the contractual participation rights of the security to share in the current earnings as if all current period earnings had been distributed. As there is no contractual obligation for participating securities to share in losses, the Company’s basic net loss per share is computed by dividing the net loss attributable to common shareholders by the weighted-average shares of common stock outstanding during periods with undistributed losses.

The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common shareholders for the three and six months ended June 30, 2026 and 2025 (in millions, except share amounts which are presented in thousands, and per share amounts):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Basic and diluted net loss per share:
Numerator:



Net loss	$	(162)	$	(29)	$	(335)	$	(114)
Denominator:
Weighted average shares outstanding – basic and diluted	965,780		729,484		962,574		726,529
Basic and diluted net loss per share	$	(0.17)	$	(0.04)	$	(0.35)	$	(0.16)

The following securities were not included in the computation of diluted shares outstanding because the effect would be anti-dilutive, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period (in thousands):


	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Market Condition RSUs	103,548	—	103,548	—
Common Stock Warrants	99,588	300	99,588	300


RSUs	28,554	47,169	28,554	47,169
Convertible Senior Notes	26,208	—	26,970	—
Options	3,049	6,851	3,049	6,851


Employee Stock Purchase Plan	567	2,190	567	2,190

Total anti-dilutive securities	261,514	56,510	262,276	56,510