
	Three Months Ended September 30,				Six Months Ended September 30,
	2026		2025		2026		2025
Numerator:
Net loss	$	(57,121)	$	(83,100)	$	(126,887)	$	(169,793)
Denominator:
Weighted average common shares outstanding, basic and diluted	105,176,101		91,915,769		101,042,985		91,717,076
Net loss per share, basic and diluted	$	(0.54)	$	(0.90)	$	(1.26)	$	(1.85)

The 16,794,493 shares of the Company's common stock issuable upon exercise of pre-funded warrants described in Note 10 to these condensed consolidated financial statements are included as outstanding common stock in the calculation of basic and diluted net loss per share.

The Company’s potentially dilutive securities, which include stock options, unvested restricted and performance stock units and warrants to purchase shares of common stock that resulted from the conversion of warrants to purchase shares of series seed preferred stock existing before the Company's IPO, 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 potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share for the periods indicated because including them would have had an anti-dilutive effect:


	Three and Six Months Ended September 30,
	2026	2025
Options to purchase common stock	11,273,533	12,232,757
Unvested restricted and performance stock units	4,946,984	5,107,447
	16,220,517	17,340,204