Basic and Diluted Net (Loss) Income per Share (Tables)

The following table sets forth the computation of the Company’s basic and diluted net (loss) income per share attributable to common stockholders for the three and six months ended June 30 (in thousands, except share and per share amounts):


	Three Months Ended June 30,								Six Months Ended June 30,
	2026				2025				2026				2025
	Class A		Class V		Class A		Class V		Class A		Class V		Class A		Class V
Numerator:
Net (loss) income attributable to common stockholders, basic	$	(83,171)	$	(3,119)	$	40,918	$	1,587	$	(171,908)	$	(6,497)	$	88,537	$	3,453
Amortization of debt discount and issuance costs for Convertible Notes	—		—		810		—		—		—		810		—
Reallocation of undistributed earnings	—		—		174		(174)		—		—		367		(367)
Net (loss) income attributable to common stockholders, diluted	(83,171)		(3,119)		41,902		1,413		(171,908)		(6,497)		89,714		3,086

Denominator:
Weighted average shares outstanding, basic	223,368,503		8,377,623		215,995,752		8,377,623		221,683,453		8,377,623		214,810,313		8,377,623
Effect of dilutive potential common shares	—		—		32,405,917		—		—		—		28,706,993		—
Weighted average shares outstanding, diluted	223,368,503		8,377,623		248,401,669		8,377,623		221,683,453		8,377,623		243,517,306		8,377,623

Basic net (loss) income per share	$	(0.37)	$	(0.37)	$	0.19	$	0.19	$	(0.78)	$	(0.78)	$	0.41	$	0.41
Diluted net (loss) income per share	$	(0.37)	$	(0.37)	$	0.17	$	0.17	$	(0.78)	$	(0.78)	$	0.37	$	0.37

The following table discloses weighted average Class A securities that were not included in the computation of diluted net (loss) income per share as their inclusion would have been anti-dilutive:


	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Convertible Notes	20,289,499	—	17,236,361	—
RSUs	19,218,502	1,075,533	16,972,637	2,559,533
Stock options	8,294,844	—	8,945,402	—
Common stock issuable under the ESPP	688,011	—	695,618	—
Warrants to purchase Class A common stock	271,962	—	271,962	—