Net loss per share is allocated based on the contractual participation rights of the Class A and Class B common shares as if the loss for the year has been distributed. As the liquidation and dividend rights are identical, the net loss is allocated on a proportionate basis.

A reconciliation of the denominator used in the calculation of basic and diluted loss per share is as follows (in thousands, except share and per share data):


	Year ended
	December 31, 2024				December 31, 2023				December 31, 2022
	Class A		Class B		Class A		Class B		Class A		Class B
Numerator
Net loss	$	(51,218)	$	(3,824)	$	(118,443)	$	(9,082)	$	(84,210)	$	(6,737)

Denominator
Weighted-average common shares outstanding - basic and diluted	51,509,798		3,845,583		50,246,900		3,852,857		49,031,441		3,922,638
Basic and diluted net loss per share	$	(0.99)	$	(0.99)	$	(2.36)	$	(2.36)	$	(1.72)	$	(1.72)

The anti-dilutive securities excluded from the weighted-average shares used to calculate the diluted net loss per common share were as follows:


	As of December 31,
	2024	2023	2022
Shares subject to outstanding common stock options	892,396	1,211,619	1,509,172
Shares subject to unvested restricted stock units and performance restricted stock units	2,723,666	2,198,411	1,921,927
Shares issuable pursuant to the ESPP	122,833	84,323	112,522
Shares underlying our convertible senior notes	6,132,025	9,547,320	4,304,082