10. Net Loss Per Share The following table sets forth the computation of basic and diluted net loss per share attributable to ordinary shareholders (in thousands, except per share amounts): | | | | | | | | | | | | | | | | | | | | | | THREE MONTHS ENDED | | SIX MONTHS ENDED | | | | JUNE 30, | | JUNE 30, | | | | 2026 | | 2025 | | 2026 | | 2025 | | Numerator: | | | | | | | | | | | | | | Net loss | | $ | (106,159) | | $ | (61,661) | | $ | (182,127) | | $ | (108,494) | | Denominator: | | | | | | | | | | | | | | Weighted-average ordinary shares outstanding | | | 213,342 | | | 172,647 | | | 213,028 | | | 172,351 | | Add: weighted average of ordinary shares to be issued upon exercise of Pre-Funded Warrants | | | 4,615 | | | — | | | 4,615 | | | — | | Weighted average shares used to compute net loss per share, basic and diluted | | | 217,957 | | | 172,647 | | | 217,643 | | | 172,351 | | Net loss per share, basic and diluted | | $ | (0.49) | | $ | (0.36) | | $ | (0.84) | | $ | (0.63) | | | | | | | | | | | | | | | |
The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share attributable to ordinary shareholders for the periods presented because including them would have been antidilutive (in thousands): | | | | | | | | | | | | AS OF | | | | JUNE 30, | | | | 2026 | | 2025 | | Options to purchase ordinary shares | | 17,180 | | 15,879 | | Unvested restricted share units | | 6,356 | | 2,884 | | Shares committed under ESPP | | 256 | | 310 | | Total | | 23,792 | | 19,073 | | | | | | | |
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