
	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(In thousands, except per share amounts)
Basic and diluted:
Net loss	$	(55,889)	$	(67,280)	$	(120,604)	$	(151,767)
Weighted-average common shares outstanding	110,757		45,641		95,206		40,569
Basic and diluted net loss per share	$	(0.50)	$	(1.47)	$	(1.27)	$	(3.74)

Basic and diluted net loss per share is computed using the weighted-average number of shares of common stock outstanding during the period. The computation of diluted net loss per share excludes the effect of all potential common shares outstanding as their impact would have been anti-dilutive. In June 2026, in connection with the exchange of debt (see Note 8), the Company issued pre-funded warrants exercisable for 10.3 million shares of its common stock at an exercise price of $0.0001 per share. As the pre-funded warrants are issuable for nominal consideration, the shares underlying the unexercised pre-funded warrants were considered outstanding for purposes of the calculation of net loss per share for the three and six months ended June 30, 2026.

The Company has excluded stock-based awards and shares issuable upon conversion of the 2027 Notes from the diluted loss per share calculation because their effect was anti-dilutive. The total number of shares excluded for the three and six months ended June 30, 2026 was 11.3 million. The total number of shares excluded for the three and six months ended June 30, 2025 was 7.3 million.