Loss Per Share

6 Months Ended

Jun. 30, 2025

11. Loss Per Share

The Company calculates basic loss per share by dividing net loss for each respective period by the weighted average number of common shares outstanding for each respective period. The Company computes diluted loss per share after giving consideration to the dilutive effect of stock options and unvested restricted stock units that are outstanding during the period, except where such securities would be anti-dilutive.

Basic and diluted loss per share was calculated as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
	(In thousands)
Net loss	$	(101,255	)	$	(146,975	)	$	(215,584	)	$	(254,411	)
Weighted average shares outstanding, basic and diluted		103,732			96,975			103,617			96,238
Net loss per share, basic and diluted	$	(0.98	)	$	(1.52	)	$	(2.08	)	$	(2.64	)

The following common stock equivalents were excluded from the calculation of diluted loss per share because their inclusion would have been anti-dilutive:


	Three and Six Months Ended June 30,
	2025		2024
	(In thousands)
Unvested restricted stock units		5,282		5,371
Stock options		5,442		5,709
		10,724		11,080