Net Loss Per Share

3 Months Ended

Mar. 31, 2026

Net Loss Per Share

Net Loss Per Share

10. Net Loss Per Share

The following table sets forth the computation of basic and diluted net loss per share attributable to ordinary shareholders (in thousands, except per share amounts):

	THREE MONTHS ENDED
	MARCH 31,
	2026		2025
Numerator:
Net loss	$	(75,968)	$	(46,833)
Denominator:
Weighted-average ordinary shares outstanding		212,711		172,051
Add: weighted average of ordinary shares to be issued upon exercise of Pre-Funded Warrants		4,615		—
Weighted average shares used to compute net loss per share, basic and diluted		217,326		172,051
Net loss per share, basic and diluted	$	(0.35)	$	(0.27)

The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net loss per share attributable to ordinary shareholders for the periods presented because including them would have been antidilutive (in thousands):

	AS OF
	MARCH 31,
	2026	2025
Options to purchase ordinary shares	16,835	15,338
Unvested restricted share units	6,064	2,657
Shares committed under ESPP	344	216
Total	23,243	18,211