The following table sets forth the computation of basic and diluted net loss per share (in thousands, except share and per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Numerator
Net loss	$	(72,936	)	$	(54,658	)	$	(141,696	)	$	(102,630	)
Denominator
Weighted-average shares outstanding used in computing net loss per share, basic and diluted		70,272,018			55,927,091			69,175,213			55,836,075
Net loss per share, basic and diluted	$	(1.04	)	$	(0.98	)	$	(2.05	)	$	(1.84	)

The Company has issued and sold Pre-funded Warrants to purchase shares of common stock at a nominal exercise price of $0.0001 (see Note 14, Pre-funded Warrants). The Pre-funded Warrants have an exercise price of $0.0001 per underlying share of common stock of the Company. The shares of common stock into which the Pre-funded Warrants may be exercised are considered outstanding for the purposes of computing earnings per share, because the shares may be issued for little or no consideration, they are fully vested and the Pre-funded Warrants are immediately exercisable upon their issuance date.

The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive:


	June 30,
	2026		2025
Stock options issued and outstanding		11,737,148		10,445,483
Restricted stock units subject to future vesting		1,816,742		725,101
2020 ESPP		303,189		549,661
Common stock warrants		30,000		30,000
Total		13,887,079		11,750,245