Net Loss Per Share

3 Months Ended

Mar. 31, 2026

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 three months ended March 31, 2026 and 2025:


	Three Months Ended March 31,
(in thousands, except share and per share data)	2026		2025
Numerator:
Net loss attributable to common stockholders	$	(20,724)	$	(21,875)
Denominator:
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted	8,736,862		8,020,013
Net loss per share attributable to common stockholders, basic and diluted	$	(2.37)	$	(2.73)

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 anti-dilutive:


	March 31, 2026	March 31, 2025
Outstanding stock options	473,747	545,833
2021 ESPP	7,938	13,549
RSUs	403,985	502,472
PSUs	50,075	95,873
Total anti-dilutive securities	935,745	1,157,727