XML 43 R31.htm IDEA: XBRL DOCUMENT v3.25.3
Net Income (Loss) Per Share Attributable to Common shareholders (Tables)
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted The following table sets forth the computation of the basic and diluted net income (loss) per share attributable to common shareholders:
Three Months Ended September 30,Nine Months Ended September 30,
(amounts in thousands, except share and per share data)2025202420252024
Net income (loss)$24,325 $(67,729)$(150,045)$(244,943)
Deemed dividend from Series D redeemable convertible preferred stock— — (384,436)— 
Adjustments of redeemable convertible preferred stock to redemption value— (24,661)(85,433)(71,368)
Net income (loss) attributable to common shareholders$24,325 $(92,390)$(619,914)$(316,311)
Denominator:
Weighted-average shares - basic282,099,073 35,643,589 128,447,673 35,442,927 
Effect of dilutive securities:
Dilutive awards and units1,659,504 — — — 
Dilutive options13,453,261 — — — 
Weighted-average shares - diluted297,211,838 35,643,589 128,447,673 35,442,927 
Net income (loss) per share attributable to common shareholders:
Basic$0.09 $(2.59)$(4.83)$(8.92)
Diluted$0.08 $(2.59)$(4.83)$(8.92)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
The following common stock equivalents were excluded from the calculation of diluted net income (loss) per share attributable to common shareholders for the periods presented as they had an anti-dilutive effect:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Series A preferred stock— 121,448,823 — 121,448,823 
Series B preferred stock— 7,407,408 — 7,407,408 
Series C preferred stock— 29,050,209 — 29,050,209 
Series D preferred stock— 25,629,071 — 25,629,071 
Outstanding warrants— 6,273,609 — 6,273,609 
Unvested RSUs74,786 695,625 4,368,855 695,625 
Outstanding stock options 1,519,047 21,263,852 22,670,564 21,263,852 
Unvested shares subject to repurchase23,446 662,000 23,446 662,000 
Total1,617,279 212,430,597 27,062,865 212,430,597