| Summary of Calculation of Basic and Diluted Net Income Per Share |
The following table presents the calculation of basic and diluted net income per share:
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2026 |
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2025 |
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|
2026 |
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|
2025 |
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(in thousands, except share and per share data) |
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Numerator: |
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|
|
Net income (loss) attributable to common stockholders |
$ |
(20,666 |
) |
|
$ |
(154 |
) |
|
$ |
(38,914 |
) |
|
$ |
23,371 |
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|
|
Denominator: |
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|
|
Basic |
|
|
|
|
|
|
|
|
|
|
|
Weighted-average common shares outstanding |
|
217,760,178 |
|
|
|
129,075,546 |
|
|
|
197,543,735 |
|
|
|
108,214,373 |
|
Weighted-average pre-funded warrants |
|
1,179,245 |
|
|
|
— |
|
|
|
677,577 |
|
|
|
— |
|
Weighted-average common shares outstanding used to calculate basic net income (loss) per share |
|
218,939,423 |
|
|
|
129,075,546 |
|
|
|
198,221,312 |
|
|
|
108,214,373 |
|
Diluted |
|
|
|
|
|
|
|
|
|
|
|
Weighted-average common shares outstanding used to calculate basic net income (loss) per share |
|
218,939,423 |
|
|
|
129,075,546 |
|
|
|
198,221,312 |
|
|
|
108,214,373 |
|
Effect of potentially dilutive securities: |
|
|
|
|
|
|
|
|
|
|
|
Stock options, ESPP & RSUs |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
713,911 |
|
Weighted-average common shares outstanding used to calculate diluted net income (loss) per share |
|
218,939,423 |
|
|
|
129,075,546 |
|
|
|
198,221,312 |
|
|
|
108,928,284 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) per share |
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|
|
|
|
|
|
|
|
|
|
Basic |
$ |
(0.09 |
) |
|
$ |
(0.00 |
) |
|
$ |
(0.20 |
) |
|
$ |
0.22 |
|
Diluted |
$ |
(0.09 |
) |
|
$ |
(0.00 |
) |
|
$ |
(0.20 |
) |
|
$ |
0.21 |
|
|
| Summary of Potentially Dilutive Securities Excluded from Computation of Diluted Net Income (Loss) Per Share |
The following weighted-average outstanding shares of potentially dilutive securities are excluded from the computation of diluted net income (loss) per share for the periods presented, because including them would have been anti-dilutive:
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Three Months Ended |
|
|
Six Months Ended |
|
|
June 30, |
|
|
June 30, |
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Options and ESPP to purchase common stock |
|
19,034,383 |
|
|
|
16,657,828 |
|
|
|
18,624,470 |
|
|
|
16,272,951 |
|
Common stock warrants |
|
5,769,231 |
|
|
|
11,538,462 |
|
|
|
5,769,231 |
|
|
|
11,538,462 |
|
RSUs |
|
2,680,915 |
|
|
|
3,125,340 |
|
|
|
3,018,315 |
|
|
|
430,788 |
|
Total |
|
27,484,528 |
|
|
|
31,321,630 |
|
|
|
27,412,016 |
|
|
|
28,242,201 |
|
|