Basic and Diluted Net Loss Per Common Share

9 Months Ended

Sep. 30, 2025

Basic and Diluted Net Loss Per Common Share

Note 12. Basic and Diluted Net Loss Per Common Share

Basic net loss per common share is computed by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per common share is computed using net loss and the weighted-average number of common shares outstanding plus potentially dilutive common shares outstanding during the period. Potentially dilutive common shares include the assumed exercise of outstanding stock options, the assumed release of outstanding RSUs, the assumed issuance of common stock under the ESPP. The Company incurred net losses in the periods presented, and as a result, potential common shares from stock options, RSUs, ESPP issuances were not included in the diluted shares used to calculate net loss per share, as their inclusion would have been anti-dilutive.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share amounts):


	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024
Net loss	$	(21,652	)	$	(39,089	)	$	(57,458	)	$	(64,859	)
Weighted-average common shares outstanding—basic and diluted		88,699,131			61,051,350			88,226,838			54,708,205
Net loss per common share—basic and diluted	$	(0.24	)	$	(0.64	)	$	(0.65	)	$	(1.19	)

The following table sets forth the potentially dilutive shares excluded from the computation of diluted net loss per common share because their effect was anti-dilutive:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Options to purchase common stock		13,073,259		8,918,477		13,073,259		8,918,477
Unvested RSUs		799,768		701,594		799,768		701,594
ESPP		191,736		192,341		191,736		192,341
Total		14,064,763		9,812,412		14,064,763		9,812,412