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Net Income (Loss) Per Share | 6 Months Ended
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Jun. 30, 2026
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | 3. Net Income (Loss) Per Share Basic net income (loss) per share is calculated by dividing the net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted net income (loss) per share is calculated by using the weighted-average number of shares of common stock outstanding, plus potential dilutive common stock during the period. Diluted net loss per share is the same as basic net loss per share in the period when the effect of the potentially dilutive securities is anti-dilutive. The pre-funded warrants have been included in both the basic and diluted EPS calculation. The following table presents the calculation of basic and diluted net income per share:
| Three Months Ended |  |  | Six Months Ended |
| June 30, |  |  | June 30, |
| 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
| (in thousands, except share and per share data) |
Numerator: |  |  |  |  |  |  |  |  |  |  |
Net income (loss) attributable to common stockholders | $ | (20,666 | ) |  | $ | (154 | ) |  | $ | (38,914 | ) |  | $ | 23,371 |
Denominator: |  |  |  |  |  |  |  |  |  |  |
Basic |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding |  | 217,760,178 |  |  |  | 129,075,546 |  |  |  | 197,543,735 |  |  |  | 108,214,373 |
Weighted-average pre-funded warrants |  | 1,179,245 |  |  |  | — |  |  |  | 677,577 |  |  |  | — |
Weighted-average common shares outstanding used to calculate basic net income (loss) per share |  | 218,939,423 |  |  |  | 129,075,546 |  |  |  | 198,221,312 |  |  |  | 108,214,373 |
Diluted |  |  |  |  |  |  |  |  |  |  |
Weighted-average common shares outstanding used to calculate basic net income (loss) per share |  | 218,939,423 |  |  |  | 129,075,546 |  |  |  | 198,221,312 |  |  |  | 108,214,373 |
Effect of potentially dilutive securities: |  |  |  |  |  |  |  |  |  |  |
Stock options, ESPP & RSUs |  | — |  |  |  | — |  |  |  | — |  |  |  | 713,911 |
Weighted-average common shares outstanding used to calculate diluted net income (loss) per share |  | 218,939,423 |  |  |  | 129,075,546 |  |  |  | 198,221,312 |  |  |  | 108,928,284 |
Net income (loss) per share |  |  |  |  |  |  |  |  |  |  |
Basic | $ | (0.09 | ) |  | $ | (0.00 | ) |  | $ | (0.20 | ) |  | $ | 0.22 |
Diluted | $ | (0.09 | ) |  | $ | (0.00 | ) |  | $ | (0.20 | ) |  | $ | 0.21 |
The following weighted-average outstanding shares of potentially dilutive securities are excluded from the computation of diluted net income (loss) per share for the periods presented, because including them would have been anti-dilutive:
| Three Months Ended |  |  | Six Months Ended |
| June 30, |  |  | June 30, |
| 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Options and ESPP to purchase common stock |  | 19,034,383 |  |  |  | 16,657,828 |  |  |  | 18,624,470 |  |  |  | 16,272,951 |
Common stock warrants |  | 5,769,231 |  |  |  | 11,538,462 |  |  |  | 5,769,231 |  |  |  | 11,538,462 |
RSUs |  | 2,680,915 |  |  |  | 3,125,340 |  |  |  | 3,018,315 |  |  |  | 430,788 |
Total |  | 27,484,528 |  |  |  | 31,321,630 |  |  |  | 27,412,016 |  |  |  | 28,242,201 |

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