NET INCOME (LOSS) PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Net Loss Per Share

The following tables present the calculation of basic and diluted net income (loss) per share attributable to common stockholders (in thousands, except share and per share data):

	Three Months Ended March 31,
	2026				2025
Basic net income (loss) per share:	Class A		Class B		Class A		Class B		Class C
Numerator:
Net income (loss)	$	44,735	$	3,310	$	(20,065)	$	(1,803)	$	(315)
Undeclared cumulative dividends to preferred stockholders	(14,440)		(1,068)		(12,397)		(1,114)		(195)
Net income (loss) attributable to common stockholders	$	30,295	$	2,242	$	(32,462)	$	(2,917)	$	(510)
Denominator:
Weighted-average number of shares outstanding, basic	334,605,611		24,750,000		275,475,350		24,750,000		4,328,764
Basic net income (loss) per share attributable to common stockholders	$	0.09	$	0.09	$	(0.12)	$	(0.12)	$	(0.12)
	Three Months Ended March 31,
	2026				2025
Dilutive net income (loss) per share:	Class A		Class B		Class A		Class B		Class C
Numerator:
Net income (loss) used in basic computation	$	30,295	$	2,242	$	(32,462)	$	(2,917)	$	(510)
Reversal of unrealized gain on preferred stock	(8,031)		—		—		—		—
Reallocation of net income as a result of conversion of Class B to Class A shares	2,242		—		—		—		—
Reallocation of undistributed earnings	—		(638)		—		—		—
Net income (loss) attributable to common stockholders	$	24,506	$	1,604	$	(32,462)	$	(2,917)	$	(510)
Denominator:
Weighted-average number of shares used in basic computation	334,605,611		24,750,000		275,475,350		24,750,000		4,328,764
Conversion of Class B to Class A shares outstanding	24,750,000		—		—		—		—
Dilutive securities	18,953,687		—		—		—		—
Weighted-average number of shares outstanding, diluted	378,309,298		24,750,000		275,475,350		24,750,000		4,328,764
Diluted net income (loss) per share attributable to common stockholders	$	0.06	$	0.06	$	(0.12)	$	(0.12)	$	(0.12)

Schedule of Potentially Dilutive Securities Excluded from the Computation of Diluted Net Loss Per Share

The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net income (loss) per share because including them would have had an anti-dilutive effect:

	Three Months Ended March 31,
Excluded Securities	2026	2025
Stock options to purchase common stock	—	5,835,796
RSUs	4,898,140	14,990
Total	4,898,140	5,850,786