Net Loss Per Share

12 Months Ended

Dec. 31, 2025

We compute net loss per share using the two-class method required for participating securities and multiple classes of common stock. The two-class method requires net income or loss be allocated between common stock and participating securities based upon their respective rights to receive dividends as if all income or loss for the period had been distributed. The rights, including the liquidation and dividend rights and sharing of losses of the Class A common stock and Class B common stock are identical, other than voting, transfer, and conversion rights. As the liquidation and dividend rights and sharing of losses are identical, the undistributed earnings are allocated on a proportionate basis and the resulting net loss per share attributed to common stockholders will, therefore, be the same for both Class A and Class B common stock on an individual or combined basis.

The following table sets forth the computation of basic and diluted net loss per share attributable to common stockholders for the periods presented:


(in thousands, except share and per share data)	December 31, 2025		December 31, 2024
Numerator:
Net loss attributable to common stockholders	$	(77,283)	$	(93,318)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	8,159,108		7,862,853
Net loss per share attributable to common stockholders, basic and diluted	$	(9.47)	$	(11.87)

The following shares of preferred stock and common stock were excluded from the computation of diluted net loss per share attributable to common stockholders for the periods presented, because including them would have been antidilutive:


	December 31, 2025	December 31, 2024

Outstanding stock options	487,427	557,361
2021 ESPP	7,379	2,366
RSUs	491,544	464,165
PSUs	64,753	45,870
Total anti-dilutive securities	1,051,103	1,069,762