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NET LOSS PER SHARE | 6 Months Ended
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Jun. 30, 2026
Earnings Per Share [Abstract] |
NET LOSS PER SHARE | 13. NET LOSS PER SHARE The following tables set forth the computation of the basic and diluted net loss per share attributable to common stockholders for the three and six months ended June 30, 2026 and 2025 (in thousands, except share and per share data):
| Three Months Ended June 30, |  |
| 2026 |  | 2025 |  |
Numerator: |  |  |  |  |
Net loss attributable to common stockholders - basic and diluted | $ | (48,028) |  |  | $ | (167,329) |  |  |
Denominator: |  |  |  |  |
Weighted-average common stock outstanding | 370,840,115 |  |  | 302,288,793 |  |  |
Net loss per share attributable to common stockholders - basic and diluted | $ | (0.13) |  |  | $ | (0.55) |  |  |
| Six Months Ended June 30,
| 2026 |  | 2025 |  |
Numerator: |  |  |  |  |
Net loss attributable to common stockholders - basic and diluted | $ | (66,385) |  |  | $ | (172,750) |  |  |
Denominator: |  |  |  |  |
Weighted-average common stock outstanding | 369,165,968 |  |  | 294,398,419 |  |  |
Net loss per share attributable to common stockholders - basic and diluted | $ | (0.18) |  |  | $ | (0.59) |  |  |
Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods as the inclusion of all potential Common Shares outstanding would have been anti-dilutive. Potentially dilutive securities (upon conversion) that were not included in the diluted per share calculations because they would be anti-dilutive were as follows:
| As of June 30, 2026
| 2026 |  | 2025 |  |
Public Warrants as converted to Common Shares (Note 10) | — |  |  | 5,387,118 |  |  |
Private Warrants as converted to Common Shares (Note 10) | — |  |  | 8,107,302 |  |  |
D-Wave Systems Warrant Preferred Shares as converted to Common Shares (Note 10) | 1,155,713 |  |  | 1,155,713 |  |  |
Equipment Financing Agreement Warrant – Common Shares (Note 9) | 21,563 |  |  | — |  |  |
Stock options issued and outstanding | 2,851,878 |  |  | 6,776,433 |  |  |
Unvested restricted stock unit awards | 9,405,964 |  |  | 10,894,644 |  |  |
Total | 13,435,118 |  |  | 32,321,210 |  |  |

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