| Schedule of Computation of Basic and Diluted Net Loss Per Share |
The following tables present the calculation of basic and diluted net income (loss) per share attributable to common stockholders (in thousands, except share and per share data): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | 2026 | | 2025 | | Basic and diluted net income (loss) per share: | Class A | | Class B | | Class A | | Class B | | Class C | | Numerator: | | | | | | | | | | | Net income (loss) | $ | 13,652 | | | $ | 955 | | | $ | (48,692) | | | $ | (4,372) | | | $ | (765) | | | Undeclared cumulative dividends to preferred stockholders | (13,690) | | | (957) | | | (19,986) | | | (1,795) | | | (315) | | | Net loss attributable to common stockholders | $ | (38) | | | $ | (2) | | | $ | (68,678) | | | $ | (6,167) | | | $ | (1,080) | | | | | | | | | | | | | Denominator: | | | | | | | | | | | Weighted-average number of shares outstanding, basic and diluted | 353,960,978 | | | 24,750,000 | | | 275,650,985 | | | 24,750,000 | | | 4,328,764 | | | Net income (loss) per share attributable to common stockholders, basic and diluted | $ | (0.00) | | | $ | (0.00) | | | $ | (0.25) | | | $ | (0.25) | | | $ | (0.25) | | | | | | | | | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, | | 2026 | | 2025 | Basic net income (loss) per share: | Class A | | Class B | | Class A | | Class B | | Class C | | Numerator: | | | | | | | | | | | Net income (loss) | $ | 58,451 | | | $ | 4,201 | | | $ | (68,757) | | | $ | (6,175) | | | $ | (1,080) | | | Undeclared cumulative dividends to preferred stockholders | (28,133) | | | (2,022) | | | (32,383) | | | (2,909) | | | (510) | | | Net income (loss) attributable to common stockholders | $ | 30,318 | | | $ | 2,179 | | | $ | (101,140) | | | $ | (9,084) | | | $ | (1,590) | | | | | | | | | | | | | Denominator: | | | | | | | | | | | Weighted-average number of shares outstanding, basic | 344,336,762 | | | 24,750,000 | | | 275,536,305 | | | 24,750,000 | | | 4,328,764 | | | Basic net income (loss) per share attributable to common stockholders | $ | 0.09 | | | $ | 0.09 | | | $ | (0.37) | | | $ | (0.37) | | | $ | (0.37) | | | | | | | | | | | | | Six Months Ended June 30, | | 2026 | | 2025 | Dilutive net income (loss) per share: | Class A | | Class B | | Class A | | Class B | | Class C | Numerator: | | | | | | | | | | | Net income (loss) used in basic computation | $ | 30,318 | | | $ | 2,179 | | | $ | (101,140) | | | $ | (9,084) | | | $ | (1,590) | | | Reversal of unrealized gain on preferred stock | (8,031) | | | — | | | — | | | — | | | — | | | Reallocation of net income as a result of conversion of Class B to Class A shares | 2,179 | | | — | | | — | | | — | | | — | | | Reallocation of undistributed earnings | — | | | (590) | | | — | | | — | | | — | | | Net income (loss) attributable to common stockholders | $ | 24,466 | | | $ | 1,589 | | | $ | (101,140) | | | $ | (9,084) | | | $ | (1,590) | | | | | | | | | | | | | Denominator: | | | | | | | | | | | Weighted-average number of shares used in basic computation | 344,336,762 | | | 24,750,000 | | | 275,536,305 | | | 24,750,000 | | | 4,328,764 | | | Conversion of Class B to Class A shares outstanding | 24,750,000 | | | — | | | — | | | — | | | — | | | Dilutive securities | 12,691,175 | | | — | | | — | | | — | | | — | | | Weighted-average number of shares outstanding, diluted | 381,777,937 | | | 24,750,000 | | | 275,536,305 | | | 24,750,000 | | | 4,328,764 | | | Diluted net income (loss) per share attributable to common stockholders | $ | 0.06 | | | $ | 0.06 | | | $ | (0.37) | | | $ | (0.37) | | | $ | (0.37) | |
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| Schedule of Potentially Dilutive Securities Excluded from the Computation of Diluted Net Loss Per Share |
The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net income (loss) per share because including them would have had an anti-dilutive effect: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | Excluded Securities | 2026 | | 2025 | | 2026 | | 2025 | | Stock options to purchase common stock | 4,454,558 | | | 5,773,296 | | | 23,075 | | | 5,773,296 | | | RSUs | 22,585,469 | | | 14,990 | | | 6,913,294 | | | 14,990 | | | Total | 27,040,027 | | | 5,788,286 | | | 6,936,369 | | | 5,788,286 | |
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