Gloo Holdings, Inc. Reports Fourth Quarter and Fiscal 2025 Financial Results
Achieves Q4 2025 Revenue of
Raises fiscal year 2026 Revenue guidance to
Expects more than 30% sequential improvement in Adjusted EBITDA from Q4 25 to Q1 26
Accelerates progress toward Adjusted EBITDA profitability
“We closed fiscal 2025 with a strong quarter that exceeded both our revenue guidance and analyst expectations. These results are particularly meaningful as they reflect our progress towards Adjusted EBITDA profitability and how AI is accelerating our momentum,” said
Fourth Quarter and Fiscal 2025 Financial Highlights
-
Raised proceeds of
$72.3 million , net of underwriting fees and discounts, in conjunction with the company’s initial public offering (IPO), completed in the fourth quarter of 2025. Additionally, converted$143.1 million of debt and related accrued interest amounts to equity in conjunction with the company’s IPO, significantly strengthening the company's balance sheet. -
Total revenue for the fourth quarter was
$33.6 million , representing 418% growth, compared to the prior year period, beating quarterly consensus of$31.6 million . Total revenue for fiscal 2025 was$94.7 million , representing 308% growth compared to fiscal 2024.-
Platform revenue for the fourth quarter and fiscal 2025 totaled
$20.1 million and$57.2 million , up 219% and 150%, respectively, compared to the prior year periods. -
Platform solutions revenue for the fourth quarter and fiscal 2025 totaled
$13.5 million and$37.5 million , up$13.3 million and$37.1 million , respectively, compared to prior year periods.
-
Platform revenue for the fourth quarter and fiscal 2025 totaled
-
Net loss of
$48.6 million and$158.7 million , for the fourth quarter and fiscal 2025, respectively. This compares to net loss of$44.8 million and$85.8 million for the fourth quarter and fiscal 2024, respectively.-
There were meaningful non-cash charges in the fourth quarter. Adjusting for these, non-GAAP net loss attributable to stockholders of
Gloo Holdings, Inc. was$39.4 million for the fourth quarter of 2025. This compares to non-GAAP net loss attributable to members ofGloo Holdings, LLC of$50.4 million for the fourth quarter of 2024.
-
There were meaningful non-cash charges in the fourth quarter. Adjusting for these, non-GAAP net loss attributable to stockholders of
-
Adjusted EBITDA was negative
$18.6 million for the fourth quarter, beating consensus estimates of negative$18.7 million . This is on the better end of the company’s guidance range of negative$19.0 million to negative$18.5 million .
“Last quarter, we said we expected to end 2025 on a positive note, and our results confirm exactly that, reflecting strong execution and financial discipline. We achieved impressive year-over-year growth, and Q4 2025 revenue that exceeded both our guidance and analyst consensus, and Adjusted EBITDA at the better end of our range,” said
Business Highlights
Advancing Leadership in
Gloo is advancing leadership in applied AI by leveraging the latest innovations in agentic AI, foundational models and services from top AI companies, combining them with Gloo platform capabilities. As part of this strategy, Gloo takes on and modernizes customer technology and operations, applying agentic AI to deliver better outcomes at lower cost for customers, with strong margins and highly durable revenue streams for Gloo.
-
As co-host of the
Missional AI Conference , previewed two new projects, including a faith-based adversarial evaluator as part of its FAI Initiative and a Language Integration Protocol (LIP) project to standardize AI training in new languages. - Published the peer-reviewed Flourishing AI Christian (FAIC) Benchmark report, outlining the methodology and research behind how AI outputs measure to a Christian worldview.
-
Launched
Gloo AI Studio in March, providing a production-grade AI development platform to faith-based and mission-driven developers.
Strategic Acquisitions
The company continues to execute on its strategic acquisition strategy, further increasing the value and reach of the Gloo platform.
- Announced a definitive agreement to acquire Enterprisemarketdesk (EMD), an established Workday Services Partner that provides consulting, implementation and support services to nonprofit, small and mid-market organizations. This expands Gloo’s enterprise technology capabilities and strengthens the Gloo 360 value proposition as the technology infrastructure management service of choice for the faith and flourishing ecosystem.
-
Successful completion of
Westfall Group acquisition, a leading platform for major donor engagement in the faith and flourishing ecosystem, expanding Gloo’s capabilities in donor development and strengthening synergies with Masterworks, which was acquired in 2025.
Customer Momentum
Gloo continued to close deals in the fourth quarter of fiscal 2025 at over
-
Announced new strategic technology partnership with InterVarsity Christian Fellowship/
USA , deploying Gloo 360 to power their enterprise technology operations. This enables InterVarsity to spend less time managing systems and more time engaging students and faculty across 700+U.S. campuses. -
Partnered with
Jessup University to modernize its operational and technology foundation, creating the capacity to invest directly in student success initiatives while strengthening marketing, enrollment growth, and retention outcomes. -
We also expanded our partnership with YouVersion in
Brazil , establishing a co-located engineering presence alongside their Regional Hub to strengthen cultural alignment with their team while building engineering capacity in the region.
Fiscal Year 2026 Outlook
Gloo is reaffirming revenue guidance for its first quarter to be
Gloo has not provided a reconciliation of its forward outlook for Adjusted EBITDA to its most directly comparable GAAP financial measure in reliance on the unreasonable efforts exception provided under Item 10(e)(1)(i)(B) of Regulation S-K. Gloo is unable to predict with reasonable certainty the amount and timing of adjustments that are used to calculate this non-GAAP financial measure, particularly related to interest expense and changes in fair value of certain financial instruments, as well as equity-based compensation and employee stock transactions and related tax effects.
Conference Call Information
Gloo will conduct a conference call with analysts and investors to discuss its fourth quarter and fiscal 2025 financial results and current financial prospects today at
About Gloo
Gloo (Nasdaq: GLOO) is a leading technology platform serving the faith and flourishing ecosystem. Gloo helps missional organizations amplify their impact by powering their technology and expanding their reach, so that people flourish and organizations thrive. The company’s values-aligned AI platform modernizes systems, workflows and data, while its marketing and donor solutions expand reach, awareness and long-term giving for mission-based organizations. Based in
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the
Non-GAAP Financial Measures
To supplement its condensed consolidated financial statements, which are prepared and presented in accordance with accounting principles generally accepted in
Gloo uses Adjusted EBITDA to evaluate its core operating performance, support planning and forecasting, and assess strategic opportunities. In addition, Gloo may use Adjusted EBITDA in its incentive compensation programs applicable to some of its employees. Accordingly, Gloo believes that Adjusted EBITDA may provide useful information to investors about its business and financial performance, enhance its overall understanding of our past performance and future prospects, and allow for greater transparency with respect to this measure used by Gloo management in their financial and operational decision making.
Adjusted EBITDA is defined as net loss adjusted to exclude (1) interest expense, (2) income tax expense (benefit), (3) depreciation and amortization, (4) equity-based compensation, (5) impairment of goodwill, (6) loss (gain) from change in fair value of financial instruments, (7) restructuring costs, (8) transaction related bonuses, (9) loss on extinguishment of debt, (10) income (loss) from equity method investments, net, (11) interest income, (12) IPO-related costs, and (13) one-time employee tax credit, that are not reflective of Gloo's core operating results.
Gloo also presents non-GAAP net loss attributable to stockholders and members of
Non-GAAP net loss attributable to stockholders and members of
The non-GAAP financial measures included in this press release are not measurements of financial performance under
|
Consolidated Balance Sheets (unaudited) |
|||||||
|
|
|
||||||
|
|
2026 |
2025 |
|||||
|
|
(in thousands, except share and unit data) |
||||||
|
ASSETS |
|
|
|
|
|||
|
Current assets: |
|
|
|
|
|||
|
Cash and cash equivalents |
$ |
57,307 |
|
$ |
13,592 |
|
|
|
Restricted cash |
|
255 |
|
|
252 |
|
|
|
Accounts receivable, net of allowance for credit losses of |
|
10,697 |
|
|
623 |
|
|
|
Inventory, net |
|
1,397 |
|
|
1,460 |
|
|
|
Contract assets |
|
1,259 |
|
|
— |
|
|
|
Prepaid expenses and other current assets |
|
4,689 |
|
|
2,388 |
|
|
|
Total current assets |
|
75,604 |
|
|
18,315 |
|
|
|
Property and equipment, net |
|
4,166 |
|
|
2,303 |
|
|
|
Capitalized software, net |
|
30,078 |
|
|
23,578 |
|
|
|
ROU operating lease asset |
|
8,705 |
|
|
3,835 |
|
|
|
Long-term investments |
|
100 |
|
|
33,252 |
|
|
|
Other non-current assets |
|
370 |
|
|
209 |
|
|
|
Intangible assets, net |
|
37,283 |
|
|
11,431 |
|
|
|
|
|
107,353 |
|
|
27,901 |
|
|
|
Total assets |
$ |
263,659 |
|
$ |
120,824 |
|
|
|
|
|
|
|
|
|||
|
LIABILITIES, MEZZANINE EQUITY, AND STOCKHOLDERS' AND MEMBERS’ DEFICIT |
|
|
|
|
|||
|
Current liabilities: |
|
|
|
|
|||
|
Accounts payable |
$ |
9,356 |
|
$ |
3,613 |
|
|
|
Accrued compensation |
|
8,397 |
|
|
4,538 |
|
|
|
Accrued liabilities |
|
6,414 |
|
|
3,521 |
|
|
|
Acquisition-related liabilities, current |
|
2,056 |
|
|
1,350 |
|
|
|
Deferred revenue |
|
14,581 |
|
|
3,725 |
|
|
|
Debt, current |
|
5,812 |
|
|
3,177 |
|
|
|
Lease liabilities, current |
|
1,925 |
|
|
685 |
|
|
|
Total current liabilities |
|
48,541 |
|
|
20,609 |
|
|
|
Acquisition-related liabilities, non-current |
|
1,346 |
|
|
100 |
|
|
|
Debt, non-current |
|
29,485 |
|
|
66,959 |
|
|
|
Lease liabilities, non-current |
|
7,076 |
|
|
3,095 |
|
|
|
Derivative liability |
|
399 |
|
|
832 |
|
|
|
Deferred income taxes |
|
4,353 |
|
|
1,911 |
|
|
|
MW Call Option |
|
12,858 |
|
|
8,793 |
|
|
|
Other non-current liabilities |
|
1,919 |
|
|
4,633 |
|
|
|
Total liabilities |
|
105,977 |
|
|
106,932 |
|
|
|
|
|
|
|
|
|||
|
Mezzanine Equity: |
|
|
|
|
|||
|
Series A Preferred Units, no par value; no units authorized, issued or outstanding, with zero liquidation preference as of |
|
— |
|
|
351,887 |
|
|
|
Redeemable NCI |
|
3,559 |
|
|
— |
|
|
|
Total mezzanine equity |
|
3,559 |
|
|
351,887 |
|
|
|
|
|
|
|
|
|||
|
Stockholders' and Members’ Equity: |
|
|
|
|
|||
|
Preferred stock, par value |
|
— |
|
|
— |
|
|
|
Common member units, no par value; no units authorized, issued or outstanding as of |
|
— |
|
|
— |
|
|
|
Class A, |
|
11 |
|
|
— |
|
|
|
Class B, |
|
70 |
|
|
— |
|
|
|
|
|
(3,771 |
) |
|
— |
|
|
|
Additional paid-in capital |
|
178,619 |
|
|
23,591 |
|
|
|
Accumulated deficit |
|
(40,119 |
) |
|
(368,312 |
) |
|
|
Accumulated other comprehensive income |
|
364 |
|
|
— |
|
|
|
Equity attributable to stockholders' and members’ |
|
135,174 |
|
|
(344,721 |
) |
|
|
Equity attributable to noncontrolling interests |
|
18,949 |
|
|
6,726 |
|
|
|
Total stockholders' and members’ equity |
|
154,123 |
|
|
(337,995 |
) |
|
|
Total liabilities, mezzanine equity, and stockholders' and members’ equity |
$ |
263,659 |
|
$ |
120,824 |
|
|
|
Consolidated Statements of Operations (unaudited) |
|||||||||||||||
|
|
Three Months Ended |
|
Year Ended |
||||||||||||
|
|
2026 |
|
2025 |
|
2026 |
|
2025 |
||||||||
|
|
(in thousands, except share, per share, unit, and per unit data) |
||||||||||||||
|
Revenue: |
|
|
|
|
|
|
|
||||||||
|
Platform revenue |
$ |
20,143 |
|
|
$ |
6,323 |
|
|
$ |
57,208 |
|
|
$ |
22,873 |
|
|
Platform solutions revenue |
|
13,490 |
|
|
|
173 |
|
|
|
37,452 |
|
|
|
330 |
|
|
Other revenue |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
13 |
|
|
Total revenue |
|
33,633 |
|
|
|
6,496 |
|
|
|
94,660 |
|
|
|
23,216 |
|
|
Operating expenses: |
|
|
|
|
|
|
|
||||||||
|
Cost of revenue (exclusive of depreciation and amortization) |
|
25,739 |
|
|
|
5,417 |
|
|
|
71,554 |
|
|
|
19,749 |
|
|
Product development |
|
6,878 |
|
|
|
3,594 |
|
|
|
23,744 |
|
|
|
13,551 |
|
|
Sales and marketing |
|
12,387 |
|
|
|
6,478 |
|
|
|
36,354 |
|
|
|
22,619 |
|
|
General and administrative |
|
20,538 |
|
|
|
4,784 |
|
|
|
60,016 |
|
|
|
15,098 |
|
|
Depreciation and amortization |
|
3,117 |
|
|
|
2,154 |
|
|
|
11,163 |
|
|
|
7,714 |
|
|
Impairment of goodwill |
|
— |
|
|
|
27,753 |
|
|
|
— |
|
|
|
27,753 |
|
|
Total operating expenses |
|
68,659 |
|
|
|
50,180 |
|
|
|
202,831 |
|
|
|
106,484 |
|
|
Operating loss |
|
(35,026 |
) |
|
|
(43,684 |
) |
|
|
(108,171 |
) |
|
|
(83,268 |
) |
|
Other expense (income): |
|
|
|
|
|
|
|
||||||||
|
Interest expense |
|
1,954 |
|
|
|
1,884 |
|
|
|
14,347 |
|
|
|
4,738 |
|
|
Other income, net |
|
(2,037 |
) |
|
|
(150 |
) |
|
|
(2,367 |
) |
|
|
(687 |
) |
|
Loss (gain) from change in fair value of financial instruments |
|
13,025 |
|
|
|
(543 |
) |
|
|
33,528 |
|
|
|
(1,301 |
) |
|
Loss on extinguishment of debt |
|
— |
|
|
|
— |
|
|
|
7,473 |
|
|
|
— |
|
|
Total other expense (income), net |
|
12,942 |
|
|
|
1,191 |
|
|
|
52,981 |
|
|
|
2,750 |
|
|
Net loss before income taxes |
|
(47,968 |
) |
|
|
(44,875 |
) |
|
|
(161,152 |
) |
|
|
(86,018 |
) |
|
Income tax (expense) benefit |
|
(680 |
) |
|
|
236 |
|
|
|
(362 |
) |
|
|
796 |
|
|
Income (loss) from equity method investments, net |
|
— |
|
|
|
(143 |
) |
|
|
2,782 |
|
|
|
(580 |
) |
|
Net loss |
|
(48,648 |
) |
|
|
(44,782 |
) |
|
|
(158,732 |
) |
|
|
(85,802 |
) |
|
Less: net loss attributable to noncontrolling interests |
|
681 |
|
|
|
(113 |
) |
|
|
(1,604 |
) |
|
|
(113 |
) |
|
Net loss attributable to stockholders and members of |
$ |
(49,329 |
) |
|
$ |
(44,669 |
) |
|
$ |
(157,128 |
) |
|
$ |
(85,689 |
) |
|
|
|
|
|
|
|
|
|
||||||||
|
Net loss per share attributable to common stockholders of |
$ |
(0.77 |
) |
|
$ |
(6.14 |
) |
|
$ |
(8.03 |
) |
|
$ |
(13.65 |
) |
|
Weighted-average common shares (Class A and Class B) of |
|
65,596,225 |
|
|
|
8,125,002 |
|
|
|
22,696,229 |
|
|
|
7,764,474 |
|
|
Consolidated Statements of Cash Flows (unaudited) |
|||||||
|
|
Year Ended |
||||||
|
|
2026 |
2025 |
|||||
|
|
(in thousands) |
||||||
|
Operating activities: |
|
|
|
|
|||
|
Net loss |
$ |
(158,732 |
) |
$ |
(85,802 |
) |
|
|
Adjustments to reconcile net loss attributable to common stockholders and members to net cash used in operating activities: |
|
|
|
|
|||
|
Equity-based compensation expense |
|
15,450 |
|
|
3,787 |
|
|
|
Depreciation and amortization |
|
11,163 |
|
|
7,714 |
|
|
|
Amortization of deferred financing costs |
|
3,249 |
|
|
692 |
|
|
|
Provision for expected credit losses |
|
396 |
|
|
64 |
|
|
|
Provision for inventory write-offs |
|
123 |
|
|
274 |
|
|
|
Lease expense |
|
2,098 |
|
|
1,179 |
|
|
|
Deferred income taxes |
|
(141 |
) |
|
(796 |
) |
|
|
Loss (gain) from change in fair value of financial instruments |
|
33,528 |
|
|
(1,301 |
) |
|
|
(Income) loss from equity method investments, net |
|
(2,782 |
) |
|
580 |
|
|
|
Loss on extinguishment of debt |
|
7,473 |
|
|
— |
|
|
|
Debt assumed through PIK interest |
|
3,474 |
|
|
1,381 |
|
|
|
Impairment of goodwill |
|
— |
|
|
27,753 |
|
|
|
Changes in operating assets and liabilities, net of acquisitions: |
|
|
|
|
|||
|
Accounts receivable |
|
(2,864 |
) |
|
(236 |
) |
|
|
Prepaid expenses and other current assets |
|
(40 |
) |
|
(1,173 |
) |
|
|
Other non-current assets |
|
(1,249 |
) |
|
(50 |
) |
|
|
Accounts payable |
|
2,814 |
|
|
(63 |
) |
|
|
Accrued expenses and other current liabilities |
|
3,820 |
|
|
(904 |
) |
|
|
Deferred revenue |
|
1,611 |
|
|
1,571 |
|
|
|
Other non-current liabilities |
|
110 |
|
|
(804 |
) |
|
|
Net cash used in operating activities |
|
(80,499 |
) |
|
(46,134 |
) |
|
|
Investing activities: |
|
|
|
|
|||
|
Purchases of property and equipment |
|
(1,189 |
) |
|
(425 |
) |
|
|
Capitalized internal-use software costs |
|
(12,822 |
) |
|
(10,169 |
) |
|
|
Purchases of equity method investments |
|
— |
|
|
(2,401 |
) |
|
|
Acquisitions, net of cash acquired |
|
(10,234 |
) |
|
(1,931 |
) |
|
|
Net cash used in investing activities |
|
(24,245 |
) |
|
(14,926 |
) |
|
|
Financing activities: |
|
|
|
|
|||
|
Payments on debt |
|
(4,316 |
) |
|
(230 |
) |
|
|
Proceeds from debt |
|
81,925 |
|
|
60,680 |
|
|
|
Payments of deferred financing costs |
|
(85 |
) |
|
(87 |
) |
|
|
Proceeds from Member Advances received, net |
|
5,000 |
|
|
489 |
|
|
|
Proceeds from Series A Preferred Units issuance |
|
817 |
|
|
— |
|
|
|
Proceeds from exercise of common stock and common unit options |
|
639 |
|
|
325 |
|
|
|
Proceeds from issuance of Class A common stock upon initial public offering, net of underwriting discounts and commissions and other offering costs |
|
64,991 |
|
|
— |
|
|
|
Net cash provided by financing activities |
|
148,971 |
|
|
61,177 |
|
|
|
Effect of exchange rate changes on cash and cash equivalents |
|
(509 |
) |
|
— |
|
|
|
Net increase in cash, cash equivalents and restricted cash |
|
43,718 |
|
|
117 |
|
|
|
Cash, cash equivalents, and restricted cash |
|
|
|
|
|||
|
Beginning of period |
|
13,844 |
|
|
13,727 |
|
|
|
End of period |
$ |
57,562 |
|
$ |
13,844 |
|
|
|
Supplemental disclosures of cash flow information: |
|
|
|
|
|||
|
Cash paid for interest |
$ |
4,013 |
|
$ |
3,442 |
|
|
|
Cash paid for taxes, net of refunds |
|
167 |
|
|
— |
|
|
|
Supplemental disclosure of non-cash investing and financing activity: |
|
|
|
|
|||
|
ROU assets obtained in acquisition |
|
2,206 |
|
|
— |
|
|
|
ROU assets obtained in exchange for new lease liabilities |
|
1,934 |
|
|
— |
|
|
|
GAAP to Non-GAAP Reconciliation (unaudited) |
|||||||||||||||
|
The following tables provide a reconciliation of our non-GAAP financial measures to their most directly comparable GAAP financial measures for the periods presented: |
|||||||||||||||
|
|
Three Months Ended |
|
Year Ended |
||||||||||||
|
|
2026 |
|
2025 |
|
2026 |
|
2025 |
||||||||
|
|
(in thousands) |
||||||||||||||
|
Net loss attributable to common stockholders and members |
$ |
(49,329 |
) |
|
$ |
(44,669 |
) |
|
$ |
(157,128 |
) |
|
$ |
(85,689 |
) |
|
Net loss attributable to noncontrolling interests |
|
681 |
|
|
|
(113 |
) |
|
|
(1,604 |
) |
|
|
(113 |
) |
|
Net loss |
|
(48,648 |
) |
|
|
(44,782 |
) |
|
|
(158,732 |
) |
|
|
(85,802 |
) |
|
Adjusted to exclude: |
|
|
|
|
|
|
|
|
|
||||||
|
Interest expense |
|
1,954 |
|
|
|
1,884 |
|
|
|
14,347 |
|
|
|
4,738 |
|
|
Income tax expense (benefit) |
|
680 |
|
|
|
(236 |
) |
|
|
362 |
|
|
|
(796 |
) |
|
Depreciation and amortization |
|
3,117 |
|
|
|
2,154 |
|
|
|
11,163 |
|
|
|
7,714 |
|
|
Equity-based compensation |
|
10,522 |
|
|
|
377 |
|
|
|
15,450 |
|
|
|
3,787 |
|
|
Impairment of goodwill |
|
— |
|
|
|
27,753 |
|
|
|
— |
|
|
|
27,753 |
|
|
Loss (gain) from change in fair value of financial instruments |
|
13,025 |
|
|
|
(543 |
) |
|
|
33,528 |
|
|
|
(1,301 |
) |
|
Restructuring costs |
|
1,680 |
|
|
|
687 |
|
|
|
1,680 |
|
|
|
687 |
|
|
Transaction related bonuses |
|
— |
|
|
|
— |
|
|
|
732 |
|
|
|
— |
|
|
Loss on extinguishment of debt |
|
— |
|
|
|
— |
|
|
|
7,473 |
|
|
|
— |
|
|
Income (loss) from equity method investments, net |
|
— |
|
|
|
143 |
|
|
|
(2,782 |
) |
|
|
580 |
|
|
Interest income |
|
(713 |
) |
|
|
(146 |
) |
|
|
(1,023 |
) |
|
|
(665 |
) |
|
IPO related costs |
|
1,117 |
|
|
|
— |
|
|
|
4,738 |
|
|
|
— |
|
|
One-time employee tax credit |
|
(1,285 |
) |
|
|
— |
|
|
|
(1,285 |
) |
|
|
— |
|
|
Adjusted EBITDA |
$ |
(18,551 |
) |
|
$ |
(12,709 |
) |
|
$ |
(74,349 |
) |
|
$ |
(43,305 |
) |
|
|
Three Months Ended |
|
Year Ended |
||||||||||||
|
|
2026 |
|
2025 |
|
2026 |
|
2025 |
||||||||
|
|
(in thousands, except share, per share, unit, and per unit data) |
||||||||||||||
|
Net loss |
$ |
(48,648 |
) |
|
$ |
(44,782 |
) |
|
$ |
(158,732 |
) |
|
$ |
(85,802 |
) |
|
Net loss attributable to noncontrolling interests |
|
681 |
|
|
|
(113 |
) |
|
|
(1,604 |
) |
|
|
(113 |
) |
|
Net loss attributable to stockholders and members of |
|
(49,329 |
) |
|
|
(44,669 |
) |
|
|
(157,128 |
) |
|
|
(85,689 |
) |
|
Adjusted to exclude: |
|
|
|
|
|
|
|
||||||||
|
Loss (gain) from change in fair value of financial instruments |
|
13,025 |
|
|
|
(543 |
) |
|
|
33,528 |
|
|
|
(1,301 |
) |
|
IPO related costs |
|
1,117 |
|
|
|
— |
|
|
|
4,738 |
|
|
|
— |
|
|
Loss on extinguishment of debt |
|
— |
|
|
|
— |
|
|
|
7,473 |
|
|
|
— |
|
|
Income tax impact(1) |
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
Non-GAAP net loss attributable to stockholders and members of |
|
(35,187 |
) |
|
|
(44,670 |
) |
|
|
(111,389 |
) |
|
|
(86,990 |
) |
|
Less: Undeclared cumulative dividends on Series A Preferred Units |
|
1,229 |
|
|
|
5,185 |
|
|
|
17,694 |
|
|
|
20,264 |
|
|
Less: Deemed dividend for conversion of Member Advance |
|
— |
|
|
|
— |
|
|
|
7,400 |
|
|
|
— |
|
|
Non-GAAP net loss available to stockholders and members of |
$ |
(36,416 |
) |
|
$ |
(49,855 |
) |
|
$ |
(136,483 |
) |
|
$ |
(107,254 |
) |
|
|
|
|
|
|
|
|
|
||||||||
|
Weighted average number of common units outstanding, basic and diluted |
|
65,596,225 |
|
|
|
8,125,002 |
|
|
|
22,696,229 |
|
|
|
7,764,474 |
|
|
|
|
|
|
|
|
|
|
||||||||
|
Net loss per share attributable to common stockholders of |
$ |
(0.77 |
) |
|
$ |
(6.14 |
) |
|
$ |
(8.03 |
) |
|
$ |
(13.65 |
) |
|
Non-GAAP net loss per unit attributable to common stockholders of |
$ |
(0.78 |
) |
|
$ |
(5.12 |
) |
|
$ |
(7.12 |
) |
|
$ |
(2.62 |
) |
|
(1) The adjustments to net loss attributable to members of |
|||||||||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20260414279483/en/
Source: