Basic and diluted net loss per share was calculated as follows (in thousands, except share and per share amounts):


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Numerator:
Net loss	$	(60,192	)	$	(29,845	)	$	(120,860	)	$	(52,185	)
Denominator:
Weighted-average number of common shares outstanding - basic and diluted		45,431,359			763,044			45,354,488			762,325
Net loss per share - basic and diluted	$	(1.32	)	$	(39.11	)	$	(2.66	)	$	(68.46	)

The Company's potentially dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of common shares outstanding used to calculate

both basic and diluted net loss per share is the same. The Company excluded the following shares from the computation of diluted net loss per share as of June 30, 2026 and 2025 because including them would have had an anti-dilutive effect:


	June 30,
	2026		2025
Redeemable convertible preferred stock		—		12,911,004
RSUs		4,689,011		3,431,208
Stock options		4,421,713		952,162
ESPP		—		—
		9,110,724		17,294,374