Net Loss Per Share

6 Months Ended

Jun. 30, 2026

11. Net Loss Per Share

The following table sets forth the computation of the Company’s basic and diluted net loss per share for the three and six months ended June 30, 2026 and 2025:


	Three Months Ended June 30,						Six Months Ended June 30,
(in thousands, except share and per share amounts)	2026			2025			2026			2025
Numerator:
Net loss attributable to common stockholders	$	(62,810	)	$	(1,573,669	)	$	(282,392	)	$	(1,606,155	)
Denominator:
Weighted-average number of common shares outstanding, basic and diluted		54,304,456			6,263,572			48,689,196			6,252,452
Net loss per share attributable to common stockholders, basic and diluted	$	(1.16	)	$	(251.24	)	$	(5.80	)	$	(256.88	)

The Company’s potentially dilutive securities were stock options, restricted stock units, warrants, and performance stock units. Based on the amounts outstanding as of June 30, 2026 and 2025, the Company excluded the following potential common shares from the computation of diluted net loss per share attributable to common stockholders because including them would have had an anti-dilutive effect:


	As of June 30,
	2026		2025
Options to purchase common stock		7,545,245		4,731,052
Restricted stock units		373,811		96,432
Performance stock units		604,285		—
Warrants		39,014,213		54,491,952