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Net Loss Per Common Share (Tables) | 9 Months Ended | 12 Months Ended
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Sep. 30, 2025 | Dec. 31, 2024
Earnings Per Share [Abstract] |  |
Schedule of Earnings Per Share, Basic and Diluted | The following table summarizes the computation of basic and diluted net loss per common share (in thousands, except per share amounts):
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Numerator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (269,935 | ) |  | $ | (19,144 | ) |  | $ | (511,846 | ) |  | $ | (55,107 | )
Denominator |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding, basic and diluted |  |  | 69,405 |  |  |  | 58,398 |  |  |  | 62,978 |  |  |  | 58,338 |
Net loss per common share, basic and diluted |  | $ | (3.89 | ) |  | $ | (0.33 | ) |  | $ | (8.13 | ) |  | $ | (0.94 | )
The following potentially dilutive common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive (in thousands):
|  | September 30, 2025 |  |  | September 30, 2024 |
Common stock warrants |  |  | 65,235 |  |  |  | 355 |
Common stock options |  |  | 55,990 |  |  |  | 49,922 |
Redeemable convertible preferred stock |  |  | 14,216 |  |  |  | 62,240 |
Redeemable convertible preferred stock warrants |  |  | — |  |  |  | 1,305 |
Total |  |  | 135,441 |  |  |  | 113,822 |
| The following table summarizes the computation of basic and diluted net loss per common share (in thousands, except per share amounts):
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
Numerator |  |  |  |  |  |  |  |
Net loss |  |  | $ (69,459 | ) |  | $ | (56,945 | )
Denominator |  |  |  |  |  |  |  |
Weighted-average common shares outstanding, basic and diluted |  |  | 88,181 |  |  |  | 87,459 |
Net loss per common share, basic and diluted |  | $ | (0.79 | ) |  | $ | (0.65 | )
The following potentially dilutive common stock equivalents were excluded from the computation of diluted net loss per share for the periods presented because including them would have been antidilutive (in thousands):
|  | Year Ended December 31, |
|  | 2024 |  |  | 2023 |
Redeemable convertible preferred stock |  |  | 93,963 |  |  |  | 93,963 |
Common stock options |  |  | 74,211 |  |  |  | 64,357 |
Redeemable convertible preferred stock warrants |  |  | 1,969 |  |  |  | 1,969 |
Common stock warrants (1) |  |  | 469 |  |  |  | 719 |
Total |  |  | 170,612 |  |  |  | 161,008 |

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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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