Net Loss Per Share

9 Months Ended

Sep. 30, 2025

The following table sets forth the computation of basic and diluted net loss per share (in thousands,

except share and per share amounts):


	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
Numerator:
Net loss ............................................................................	$(50,855)	$(19,140)	$(92,396)	$(63,451)
Denominator:
Weighted-average shares used to compute net loss per share, basic and diluted .................................	49,106,752	5,586,424	20,686,526	5,185,007
Net loss per share, basic and diluted ..........................	$(1.04)	$(3.43)	$(4.47)	$(12.24)

The following outstanding shares of potentially dilutive securities were excluded from the computation of

diluted net loss per share for the period presented because including them would have been antidilutive:


	September 30,
	2025	2024
Redeemable convertible preferred stock ............................................................	—	122,231,454
Outstanding options to purchase common stock ...............................................	10,006,820	8,009,198
Restricted stock units .............................................................................................	813,283	—
Estimated ESPP ......................................................................................................	231,558	—
Common stock warrants ........................................................................................	1,647,667	1,647,667
Total ...........................................................................................................................	12,699,328	131,888,319