Net Income (Loss) Per Share Attributable to Common Stockholders

A reconciliation of the numerator and denominator used in the calculation of the basic and diluted net income (loss) per share attributable to common stockholders is as follows (in thousands, except share and per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator
Net income (loss) attributable to common stockholders, basic	$	(27,233)	$	(11,366)	$	11,703	$	51,034
Effect of gain related to liability classified common stock warrants	—		(4,537)		(28,752)		(47,040)
Effect of gain on debt extinguishment	—		—		—		(37,101)
Effect of interest expense related to the February 2025 Exchanged Notes	—		—		—		275
Net loss attributable to common stockholders, diluted	$	(27,233)	$	(15,903)	$	(17,049)	$	(32,832)
Denominator
Weighted-average common shares outstanding used to calculate net income (loss) per share attributable to common stockholders, basic	121,023,931		114,044,057		120,277,907		113,046,607
Effect of dilutive liability classified common stock warrants outstanding	—		5,440,659		6,112,919		5,825,979
Effect of dilutive February 2025 Exchanged Notes	—		—		—		1,305,984
Weighted-average common shares outstanding used to calculate net income (loss) per share attributable to common stockholders, diluted	121,023,931		119,484,716		126,390,826		120,178,570
Net income (loss) per share attributable to common stockholders:
Basic	$	(0.23)	$	(0.10)	$	0.10	$	0.45
Diluted	$	(0.23)	$	(0.13)	$	(0.13)	$	(0.27)

The following securities were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including them would have been anti-dilutive (on an as-converted basis):


	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Options to purchase common stock	594,031	849,752	594,031	849,752
Restricted stock units	9,706,926	13,698,636	9,706,926	13,698,636
Estimated shares issuable under the Employee Stock Purchase Plan	113,741	207,362	113,741	207,362
Anti-dilutive Convertible Senior Notes	19,687,744	17,095,090	19,687,744	17,095,090
Warrants to purchase common stock	7,164,796	—	—	—
Total	37,267,238	31,850,840	30,102,442	31,850,840