v3.26.1
Net Income (Loss) Per Share (Tables)
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Schedule of Reconciliation of Numerator and Denominator for Calculating Basic and Diluted Net income (loss) per share
The following table presents the reconciliation of the numerator and denominator for calculating basic and diluted net income (loss) per share (in thousands, except per share data):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Numerator:
Net income (loss)$43,690 $(575,651)$78,818 $(558,512)
Adjustment to reflect deemed contribution from Series D and Series E redeemable convertible preferred stock extinguishment (1)
— — — 104,174 
Income allocated to participating securities(588)— (1,784)— 
Net income (loss) attributable to common stockholders$43,102 $(575,651)$77,034 $(454,338)
Denominator:
Weighted-average number of shares used in computing net income (loss) per share attributable to common stockholders:
Basic78,969 43,931 78,795 30,190 
Diluted83,424 43,931 82,344 30,190 
Net income (loss) per share attributable to common stockholders:
Basic$0.55 $(13.10)$0.98 $(15.05)
Diluted$0.52 $(13.10)$0.94 $(15.05)
(1)As discussed in Note 2, Summary of Significant Accounting Policies- Redeemable Convertible Preferred Stock, the Company has concluded that transactions contemplated by the Stock Repurchase Agreement with Coatue resulted in a modification which should be accounted for as an extinguishment transaction. This extinguishment was treated as a deemed contribution for the purpose of calculating net income attributable to common stockholders.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
Certain potentially issuable shares have been excluded from the calculation of diluted net loss per share during the three and six months ended June 30, 2025 because their inclusion would have been anti-dilutive (in thousands):
Three Months Ended June 30, 2025Six Months Ended June 30, 2025
Preferred Stock2,582 2,582 
Stock options2,698 2,698 
Restricted stock units5,900 5,900 
Performance restricted stock units5,691 5,691 
Total16,871 16,871