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Net Loss Per Share (Tables)
6 Months Ended
Jun. 30, 2025
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Net Loss Per Share

The following tables set forth the computation of basic and diluted net loss per share of Common Stock, Series A Preferred Stock, and Series B Preferred Stock (in thousands, except share and per share amounts):

 

 

 

Three Months Ended June 30,

 

 

 

2025

 

 

2024 (Revised)

 

 

 

Series A Preferred Stock

 

 

Series B Preferred Stock

 

 

Common Stock

 

 

Series A Preferred Stock

 

 

Series B Preferred Stock

 

 

Common Stock

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allocated net loss

 

$

(8,999

)

 

$

(3,653

)

 

$

(60,877

)

 

$

(8,041

)

 

$

(8,043

)

 

$

(42,866

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding, basic and diluted

 

 

67,686

 

 

 

6,868

 

 

 

114,466,080

 

 

 

74,465

 

 

 

18,621

 

 

 

99,240,030

 

Net loss per share, basic and diluted

 

$

(132.95

)

 

$

(531.89

)

 

$

(0.53

)

 

$

(107.98

)

 

$

(431.93

)

 

$

(0.43

)

 

 

 

 

Six Months Ended June 30,

 

 

 

2025

 

 

2024 (Revised)

 

 

 

Series A Preferred Stock

 

 

Series B Preferred Stock

 

 

Common Stock

 

 

Series A Preferred Stock

 

 

Series B Preferred Stock

 

 

Common Stock

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allocated net loss

 

$

(17,834

)

 

$

(7,227

)

 

$

(120,454

)

 

$

(17,025

)

 

$

(11,546

)

 

$

(88,727

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding, basic and diluted

 

 

67,788

 

 

 

6,868

 

 

 

114,463,810

 

 

 

74,465

 

 

 

12,626

 

 

 

97,022,345

 

Net loss per share, basic and diluted

 

$

(263.08

)

 

$

(1,052.27

)

 

$

(1.05

)

 

$

(228.63

)

 

$

(914.46

)

 

$

(0.91

)

 

Summary of Potential Dilutive Securities

The Company’s potential dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be anti-dilutive and would result in a reduction to net loss per share. The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share attributable to common stockholders for the periods indicated above because including them would have had an anti-dilutive effect:

 

 

 

June 30,

 

 

 

2025

 

 

2024

 

Stock options to purchase common stock

 

 

27,107,864

 

 

 

20,836,714

 

Performance-based restricted stock units subject to vesting

 

 

3,054,000

 

 

 

2,714,000

 

Time-based restricted stock units subject to vesting

 

 

80,000

 

 

 

80,000

 

 

 

 

30,241,864

 

 

 

23,630,714