v3.26.3
Net Loss Per Share
9 Months Ended
Sep. 30, 2026
Earnings Per Share [Abstract]  
Net Loss Per Share

Note 9. Net Loss Per Share

Basic net loss per share is computed by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share adjusts basic earnings per share for the potentially dilutive impact of stock options. As the Company has reported a loss for the three and nine months ended September 30, 2026 and 2025, potentially dilutive securities are antidilutive and accordingly, basic net loss per share equals diluted net loss per share.

The following table sets forth the computation of basic and diluted loss per share of Class A Common Stock and Class B Common Stock (amounts in thousands, except per share amounts):

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2026

 

 

2025

 

 

2026

 

 

2025

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(84,477

)

 

$

(105,824

)

 

$

(283,516

)

 

$

(334,945

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Basic and Diluted weighted-average common shares outstanding

 

 

620,557

 

 

 

588,728

 

 

 

616,251

 

 

 

566,293

 

Basic and Diluted net loss per share

 

$

(0.14

)

 

$

(0.18

)

 

$

(0.46

)

 

$

(0.59

)

Basic and diluted earnings per share were the same for each period presented as the inclusion of all potential Class A Common Stock and Class B Common Stock outstanding would have been anti-dilutive.

The following table presents the potential common stock outstanding that was excluded from the computation of diluted net loss per share of common stock as of the periods presented because including them would have been antidilutive (amounts in thousands):

 

 

As of September 30,

 

 

 

2026

 

 

2025

 

Options

 

 

3,133

 

 

 

6,407

 

RSUs

 

 

29,183

 

 

 

32,279

 

PSUs

 

 

13,719

 

 

 

9,284

 

Total

 

 

46,035

 

 

 

47,970