Basic (loss) earnings per share represents income available to common or ordinary shareholders divided by the weighted average number of Common Stock or Ordinary Shares outstanding during the reported period. Diluted (loss) earnings per share is based upon the weighted-average number of shares outstanding during the period plus additional weighted-average potentially dilutive share equivalents during the period when the effect is dilutive.

Basic and diluted weighted average shares outstanding and (loss) earnings per share were as follows (in thousands, except share and per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Net loss	$	(90,660)	$	(89,167)	$	(66,135)	$	(150,075)


Weighted average shares used in computing (loss) earnings per share, basic and diluted	146,803,539		145,222,189		147,923,437		145,247,477




Basic (loss) earnings per share	$	(0.62)	$	(0.61)	$	(0.45)	$	(1.03)

Diluted (loss) earnings per share	$	(0.62)	$	(0.61)	$	(0.45)	$	(1.03)

The number of anti-dilutive securities not included in the calculation of diluted (loss) earnings per share were as follows:


	Three Months Ended September 30,		Nine Months Ended September 30,
	2025	2024	2025	2024
PBNQSO	6,856,989	6,324,992	2,867,906	2,271,667
Founders advisory fees	17,751,491	9,428,244	10,631,286	9,428,244
Warrants	—	8,459,849	—	8,460,523
Total	24,608,480	24,213,085	13,499,192	20,160,434