| Summary of Computation of Basic and Diluted Net Loss per Share Attributable to Common Stockholders |
The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the three and six months ended June 30, 2026 and 2025 (in thousands, except share and per share amounts):
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Three Months Ended June 30, |
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|
Six Months Ended June 30, |
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|
|
2026 |
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|
2025 |
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|
2026 |
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|
2025 |
|
Numerator: |
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|
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Net loss |
|
$ |
(88,409 |
) |
|
$ |
(105,211 |
) |
|
$ |
(171,367 |
) |
|
$ |
(173,454 |
) |
Impact of preferred stock extinguishments and
modifications |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
(9,396 |
) |
Net loss attributable to common stockholders |
|
$ |
(88,409 |
) |
|
$ |
(105,211 |
) |
|
$ |
(171,367 |
) |
|
$ |
(182,850 |
) |
Denominator: |
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|
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|
|
|
|
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Weighted-average common shares outstanding |
|
|
54,143,162 |
|
|
|
2,872,295 |
|
|
|
43,978,949 |
|
|
|
2,871,115 |
|
Less: Weighted-average common shares subject to
repurchase |
|
|
— |
|
|
|
(23,766 |
) |
|
|
(576 |
) |
|
|
(61,424 |
) |
Weighted-average common shares outstanding, basic and
diluted |
|
|
54,143,162 |
|
|
|
2,848,529 |
|
|
|
43,978,373 |
|
|
|
2,809,691 |
|
Net loss per share attributable to common stockholders, basic
and diluted |
|
$ |
(1.63 |
) |
|
$ |
(36.94 |
) |
|
$ |
(3.90 |
) |
|
$ |
(65.08 |
) |
|
| Schedule of Outstanding Common Stock Equivalents Excluded from Diluted Net Loss Per Share |
The following outstanding common stock equivalents have been excluded from diluted net loss per share attributable to common stockholders for the three and six months ended June 30, 2026 and 2025 because their inclusion would be anti-dilutive:
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|
|
|
|
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June 30, |
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|
|
2026 |
|
|
2025 |
|
Options to purchase common stock |
|
|
7,919,531 |
|
|
|
5,738,383 |
|
Early exercised stock options and unvested restricted
common stock |
|
|
— |
|
|
|
7,595 |
|
Warrants to purchase common stock |
|
|
739,559 |
|
|
|
739,559 |
|
Redeemable convertible preferred stock |
|
|
— |
|
|
|
29,855,741 |
|
Total common stock equivalents |
|
|
8,659,090 |
|
|
|
36,341,278 |
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|