Net Loss Per Share Attributable to Common Stockholders

12 Months Ended

Dec. 31, 2025

Net Loss Per Share Attributable to Common Stockholders

NOTE 19. Net Loss Per Share Attributable to Common Stockholders

Basic net loss per share is computed using the two-class method, by dividing the net loss by the weighted-average number of shares of common stock of the Company outstanding during the period. Diluted net loss per share is computed by giving effect to all potential shares of common stock of the Company, outstanding stock options, warrants, to the extent dilutive. However, the unvested restricted stock, RSUs and PSUs as of December 31, 2025 and 2024 of 24,976,756 and 42,792,051, respectively, are not considered as participating securities and are anti-dilutive and as such are excluded from the weighted average number of shares used for calculating basic and diluted net loss per share. For periods in which the Company has reported net losses, diluted net loss per common share is the same as basic net loss per common share, since dilutive common shares are not assumed to have been issued if their effect is anti-dilutive.

The following table sets forth the calculation of basic and diluted net loss per share attributable to common stockholders during the periods presented:


	Year ended December 31,
	2025			2024			2023
Numerator:
Numerator for Basic and Diluted loss per share – loss available to common stockholders	$	(31,509	)	$	(69,771	)	$	(187,481	)
Denominator:
Class A Common Stock		201,565,939			168,277,091			140,593,656
Class B Common Stock		19,156,875			17,707,016			16,103,652
Denominator for Basic and Diluted loss per share – weighted-average common stock		220,722,814			185,984,107			156,697,308
Basic and Diluted loss per share	$	(0.14	)	$	(0.38	)	$	(1.20	)

Since the Company was in a net loss position for all periods presented, the inclusion of all potential common equivalent shares outstanding would have been anti-dilutive. Therefore, net loss per share attributable to common stockholders was the same on a basic and diluted basis.

Anti-dilutive weighted-average common equivalent shares were as follows:


	Year ended December 31,
	2025		2024		2023
Options		2,317,812		3,663,812		2,065,316
Restricted Stock and RSUs		14,252,881		42,361,451		56,915,993
PSUs		1,679,898		7,504,227		4,370,543