NET LOSS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2025

Schedule of calculation of basic and diluted earnings per share

The following table presents the calculation of the Company’s basic and diluted net loss per share :


	Year Ended
(in thousands, except share and per share data)	December 31, 2025		December 31, 2024		December 31, 2023
Numerator
Net loss	$	(408,351)	$	(2,027,005)	$	(1,465,685)
Denominator
Weighted average shares of common stock—basic and diluted	36,753,751		31,901,259		31,049,148
Net loss per share
Basic	$	(11.11)	$	(63.54)	$	(47.21)
Diluted	$	(11.11)	$	(63.54)	$	(47.21)

Schedule of antidilutive securities excluded from computation of earnings per share

The following common stock equivalents were excluded from the calculation of diluted net loss per share for the periods presented as they had an anti-dilutive effect:


	Year Ended
	December 31, 2025	December 31, 2024	December 31, 2023
Unvested restricted stock units	4,831,956	5,523,029	6,564,282
Unvested performance options	104,315	104,315	104,315
Unvested performance stock units	31,000	—	—
Shares issuable under ESPP	74,453	—	—
Total	5,041,724	5,627,344	6,668,597