NET LOSS PER SHARE (Tables)

6 Months Ended

Jun. 30, 2026

Schedule of Computation of Basic and Diluted Net Loss Per Share

The following tables set forth the computation of the basic and diluted net loss per share attributable to common stockholders for the three and six months ended June 30, 2026 and 2025 (in thousands, except share and per share data):


	Three Months Ended June 30,
	2026		2025
Numerator:
Net loss attributable to common stockholders - basic and diluted	$	(48,028)	$	(167,329)
Denominator:
Weighted-average common stock outstanding	370,840,115		302,288,793
Net loss per share attributable to common stockholders - basic and diluted	$	(0.13)	$	(0.55)


	Six Months Ended June 30,
	2026		2025
Numerator:
Net loss attributable to common stockholders - basic and diluted	$	(66,385)	$	(172,750)
Denominator:
Weighted-average common stock outstanding	369,165,968		294,398,419
Net loss per share attributable to common stockholders - basic and diluted	$	(0.18)	$	(0.59)

Schedule of Potentially Dilutive Securities

Potentially dilutive securities (upon conversion) that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:


	As of June 30, 2026
	2026	2025
Public Warrants as converted to Common Shares (Note 10)	—	5,387,118
Private Warrants as converted to Common Shares (Note 10)	—	8,107,302
D-Wave Systems Warrant Preferred Shares as converted to Common Shares (Note 10)	1,155,713	1,155,713
Equipment Financing Agreement Warrant – Common Shares (Note 9)	21,563	—
Stock options issued and outstanding	2,851,878	6,776,433
Unvested restricted stock unit awards	9,405,964	10,894,644
Total	13,435,118	32,321,210