The Company computes net loss per share of Class A and Class B Common Stock using the two-class method. As the liquidation and dividend rights for both Class A and Class B Common Stock are identical, the net loss is allocated on a proportionate basis to the weighted-average number of shares of common stock outstanding

for the period. Basic net loss per share attributable to Class A and Class B stockholders is computed by dividing the net loss by the weighted-average number of Class A and Class B Common Stock outstanding during the period.

For the calculation of diluted net loss per share, net loss for basic earnings per share is adjusted by the effect of dilutive securities, including awards under the Company’s equity compensation plans. The dilutive potential shares of common stock are computed using the treasury stock method or the as-if converted method, as applicable. Since the Company is in a loss position for all periods reported, basic and diluted net loss per share are the same for all periods as the inclusion of potential dilutive shares would have been anti-dilutive.

The following tables present the calculation of basic and diluted net loss per share attributable to common stockholders (in thousands, except per share data):


	Fiscal Year Ended June 30,
	2026				2025				2024
	Class A		Class B		Class A		Class B		Class A		Class B
Numerator:
Net Loss	$	(34,202)	$	(19,626)	$	(160,050)	$	(96,637)	$	(181,587)	$	(118,932)
Denominator:
Weighted-average shares outstanding, basic and diluted	165,308		94,855		163,230		98,557		156,580		102,553
Net loss per share, basic and diluted	$	(0.21)	$	(0.21)	$	(0.98)	$	(0.98)	$	(1.16)	$	(1.16)

The potential weighted average dilutive securities that were not included in the dilutive earnings per share calculation because the effect would be anti-dilutive were as follows (shares in thousands):


	Fiscal Year Ended June 30,
	2026	2025	2024

Class A Common Stock RSU awards	16,746	7,423	8,320
Class A Common Stock restricted stock awards	554	29	23
Total potentially dilutive securities	17,300	7,452	8,343