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Net Loss Per Share Attributable to Common Stockholders | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Net Loss Per Share Attributable to Common Stockholders | Net Loss Per Share Attributable to Common Stockholders The Company computes net loss per share utilizing the two-class method required for participating securities. The two-class method determines net loss per share for each class of common stock and participating securities according to dividends declared or accumulated and participation rights in undistributed income. The rights, including the liquidation and dividend rights, of the holders of the Company's Class A common stock, redeemable Class A common stock, and Class B common stock are identical, except with respect to voting, and in the case of redeemable Class A common stock, redemption. As a result, the basic and diluted net loss per share for all shares of Class A common stock, redeemable Class A common stock, and Class B common stock are the same and therefore presented on a combined basis. The Company considers its redeemable convertible preferred stock and common stock warrants to be participating securities as the holders of these securities are contractually entitled to participate in income but not contractually required to participate in losses. As such, net loss for the periods presented was not allocated to the Company's participating securities. The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods presented (in thousands, except per share data):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2025 |  | 2024 |  | 2025 |  | 2024
Numerator: |  |  |  |  |  |  |  |
Net loss |  | $ | (110,124) |  |  | $ | (359,807) |  |  | $ | (715,274) |  |  | $ | (812,076) |
Dividends and accretion on Series C redeemable convertible preferred stock |  | — |  |  | (29,360) |  |  | (28,722) |  |  | (44,956) |
Net loss attributable to common stockholders, basic |  | $ | (110,124) |  |  | $ | (389,167) |  |  | $ | (743,996) |  |  | $ | (857,032) |
Change in fair value of common stock warrants |  | — |  |  | — |  |  | (26,845) |  |  | — |
Net loss attributable to common stockholders, diluted |  | $ | (110,124) |  |  | $ | (389,167) |  |  | $ | (770,841) |  |  | $ | (857,032) |
Denominator: |  |  |  |  |  |  |  |
Weighted-average shares used in computing net loss attributable to common stockholders, basic |  | 497,886 |  | 213,806 |  | 410,954 |  | 210,889
Effect of dilutive securities: |  |  |  |  |  |  |  |
Common stock warrants |  | — |  |  | — |  |  | 1,224 |  |  | — |
Weighted-average shares used in computing net loss attributable to common stockholders, diluted |  | 497,886 |  | 213,806 |  | 412,178 |  | 210,889
Net loss per share attributable to common stockholders, basic |  | $ | (0.22) |  |  | $ | (1.82) |  |  | $ | (1.81) |  |  | $ | (4.06) |
Net loss per share attributable to common stockholders, diluted |  | $ | (0.22) |  |  | $ | (1.82) |  |  | $ | (1.87) |  |  | $ | (4.06) |
The number of securities that were excluded from the calculation of diluted net loss per share attributable to common stockholders for the periods presented because including them would have been anti-dilutive are as follows (in thousands):
|  | As of September 30,
|  | 2025 |  | 2024
Redeemable convertible preferred stock |  | — |  | 188,684
Outstanding stock options |  | 36,699 |  | 49,138
Outstanding RSUs and RSAs |  | 27,060 |  | — |
Outstanding warrants to purchase common stock |  | 4,337 |  | 4,337
ESPP |  | 144 |  | — |
Total |  | 68,240 |  | 242,159
The table above does not include 6,591,020 RSUs outstanding as of September 30, 2024 because these awards were subject to a performance-based vesting condition that was not considered probable as of that date.

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