NET LOSS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2025

Schedule of Basic and Diluted Net Loss Per Share Attributable to Common Stockholders

Basic and diluted net loss per share attributable to common stockholders are calculated as follows (in thousands, except share and per share amounts):


	Three Months Ended March 31,
	2025		2024
Net loss	$	(366,171)	$	(680,859)
Accretion of redeemable convertible preferred stock (related party)	(364,925)		(3,901)
Net loss attributable to common stockholders, basic and diluted	$	(731,096)	$	(684,760)

Weighted-average shares outstanding attributable to common stockholders, basic and diluted	3,036,317,307		2,301,870,644

Net loss per share attributable to common stockholders, basic and diluted	$	(0.24)	$	(0.30)

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share attributable to common stockholders because including them would have had an anti-dilutive effect:


	March 31,
Excluded Securities	2025	2024
Private Placement Warrants to purchase common stock	44,350,000	44,350,000
Options outstanding to purchase common stock	26,448,176	31,299,940
RSUs outstanding	86,525,244	58,879,709
Employee stock purchase plan	24,143,443	15,503,221
If-converted common shares from 2026 Notes	36,737,785	36,737,785
If-converted common shares from Series A redeemable convertible preferred stock	304,262,653	278,148,643
If-converted common shares from Series B redeemable convertible preferred stock	181,087,965	—
Total	703,555,266	464,919,298