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Net Loss Per Share Attributable to Common Stockholders | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Net Loss Per Share Attributable to Common Stockholders | Net Loss Per Share Attributable to Common Stockholders Our Series A Preferred Stock is considered a participating security, which requires the use of the two-class method for the computation of basic and diluted per share amounts. Under the two-class method, earnings available to common stockholders for the period are allocated between common stockholders and participating securities according to dividends accumulated and participation rights in undistributed earnings. Net loss attributable to common stockholders is not allocated to the convertible preferred stock as the holder of the Series A Preferred Stock does not have a contractual obligation to share in losses. Basic net loss attributable to common stockholders per share is computed by dividing net loss available to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted net loss attributable to common stockholders per share is computed by dividing the net loss available to common stockholders for the period by the weighted average number of common and common equivalent shares outstanding during the period. Diluted net loss attributable to common stockholders per share reflects all potential dilutive common stock equivalent shares, including conversion of preferred stock, stock options, restricted stock units and shares to be issued under our employee stock purchase program. The following table sets forth the computation of basic and diluted net loss attributable to common stockholders per share (in thousands, except per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Numerator: |  |  |  |  |  |  |
Net loss attributable to common stockholders | $ | (44,581) |  |  | $ | (53,948) |  |  | $ | (84,336) |  |  | $ | (120,647) |
Denominator: |  |  |  |  |  |  |
Shares used in per share calculation – basic | 30,633 |  |  | 29,485 |  |  | 30,347 |  |  | 29,211 |
Dilutive effect of common stock | — |  |  | — |  |  | — |  |  | — |
Shares used in per share calculation – diluted | 30,633 |  |  | 29,485 |  |  | 30,347 |  |  | 29,211 |
Net loss attributable to common stockholders per share – basic and diluted | $ | (1.46) |  |  | $ | (1.83) |  |  | $ | (2.78) |  |  | $ | (4.13) |
For each of the three and nine months ended September 30, 2025 and 2024, we had securities outstanding that could potentially dilute net loss per share, but the shares from the assumed conversion or exercise of these securities were excluded in the computation of diluted net loss per share as their effect would have been anti-dilutive. The number of weighted-average outstanding anti-dilutive shares that were excluded from the computation of diluted net loss per share consisted of the following (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Convertible preferred stock | 3,791 |  |  | 3,573 |  |  | 3,736 |  |  | 3,521 |
Restricted stock units | 2,383 |  |  | 2,902 |  |  | 1,508 |  |  | 2,051 |
Performance-based stock units | 479 |  |  | 110 |  |  | 469 |  |  | 115 |
Common stock options | 193 |  |  | 216 |  |  | 205 |  |  | 217 |
Employee stock purchase program | 79 |  |  | — |  |  | 13 |  |  | 3 |
Total | 6,925 |  |  | 6,801 |  |  | 5,931 |  |  | 5,907 |

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