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Net Loss Per Share Attributable to Common shareholders | 6 Months Ended
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Jun. 30, 2025
Earnings Per Share [Abstract] |
Net Loss Per Share Attributable to Common shareholders | Net Loss Per Share Attributable to Common shareholders The following table sets forth the computation of the basic and diluted net loss per share attributable to common shareholders:
| Three Months Ended June 30, |  | Six Months Ended June 30, |
(amounts in thousands, except share and per share data) | 2025 |  | 2024 |  | 2025 |  | 2024 |  |  |  |  |
Net loss | $ | (71,790) |  |  | $ | (66,186) |  |  | $ | (174,370) |  |  | $ | (177,214) |  |  |  |  |  |
Deemed dividend from Series D redeemable convertible preferred stock | (384,436) |  |  | — |  |  | (384,436) |  |  | — |  |  |  |  |  |
Adjustments of redeemable convertible preferred stock to redemption value | (60,971) |  |  | (23,594) |  |  | (85,433) |  |  | (46,707) |  |  |  |  |  |
Net loss attributable to common shareholders | $ | (517,197) |  |  | $ | (89,780) |  |  | $ | (644,239) |  |  | $ | (223,921) |  |  |  |  |  |
Net loss per share attributable to common shareholders, basic and diluted | $ | (7.97) |  |  | $ | (2.54) |  |  | $ | (12.80) |  |  | $ | (6.34) |  |  |  |  |  |
Weighted-average shares used in computing net loss per share attributable to common shareholders, basic and diluted | 64,918,988 |  |  | 35,371,424 |  |  | 50,348,947 |  |  | 35,342,180 |  |  |  |  |  |
The following common stock equivalents were excluded from the calculation of diluted net loss per share attributable to common shareholders for the periods presented as they had an anti-dilutive effect:
| Six Months Ended June 30, |
| 2025 |  | 2024 |  |  |  |  |
Series A preferred stock | — |  |  | 121,448,823 |  |  |  |  |  |
Series B preferred stock | — |  |  | 7,407,408 |  |  |  |  |  |
Series C preferred stock | — |  |  | 29,050,209 |  |  |  |  |  |
Series D preferred stock | — |  |  | 25,629,071 |  |  |  |  |  |
Outstanding warrants | — |  |  | 6,273,609 |  |  |  |  |  |
Unvested RSUs | 4,363,462 |  |  | 180,125 |  |  |  |  |  |
Outstanding stock options | 23,503,976 |  |  | 21,191,043 |  |  |  |  |  |
Unvested shares subject to repurchase | 43,603 |  |  | 968,000 |  |  |  |  |  |
Total | 27,911,041 |  |  | 212,148,288 |  |  |  |  |  |

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/260/tableOfContent Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-3 + Details
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