| Schedule of Basic and Diluted Net Loss Per Common Share |
The following table summarizes the computation of basic and diluted net loss per common share (in thousands, except per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Numerator | | | | | | | | Net (loss) income | $ | 12,477 | | | $ | (113,726) | | | $ | 38,967 | | | $ | (241,911) | |
| | | | | | | | | | | | | | | | | | | | | | | | | Less: cumulative dividends to preferred stockholders | (4,100) | | | — | | | (8,381) | | | — | | | Less: deemed dividend to preferred stockholders related to a conversion price adjustment | (46,052) | | | — | | | (46,052) | | | — | | | Net loss attributable to common stockholders, basic | (37,675) | | | (113,726) | | | (15,466) | | | (241,911) | | | Less: gain on change in fair value of liability-classified warrants | (58,280) | | | — | | | (122,938) | | | — | | | Net loss attributable to common stockholders, diluted | $ | (95,955) | | | $ | (113,726) | | | $ | (138,404) | | | $ | (241,911) | | | Denominator | | | | | | | | Weighted-average common shares outstanding, basic | 187,241 | | 60,197 | | 181,825 | | 59,720 | Effect of dilutive liability-classified warrants | 5,962 | | — | | 7,061 | | — | Weighted-average common shares outstanding, diluted | 193,203 | | 60,197 | | 188,886 | | 59,720 | Net loss per common share, basic | $ | (0.20) | | | $ | (1.89) | | | $ | (0.09) | | | $ | (4.05) | | | Net loss per common share, diluted | $ | (0.50) | | | $ | (1.89) | | | $ | (0.73) | | | $ | (4.05) | |
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| Schedule of Dilutive Common Stock Equivalents |
The following potentially dilutive common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been anti-dilutive (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | Three and Six Months Ended
June 30, | | | | | | 2026 | | 2025 | | | | | | | | | | Common stock warrants | | 38,904 | | 215 | | | | | | | | | | Redeemable convertible preferred stock | | 30,604 | | 62,240 | | | | | | | | | | Common stock options and RSUs | | 56,278 | | 53,957 | | | | | | | | | | Redeemable convertible preferred stock warrants | | — | | 1,305 | | | | | | | | | | | ESPP | | 79 | | — | | | | | | | | | | | Total | | 125,865 | | 117,717 | | | | | | | | | | | | | | | | | | | | | | | |
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