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NET LOSS PER SHARE
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
NET LOSS PER SHARE

3. NET LOSS PER SHARE

 

Basic net loss per share is calculated using the weighted-average number of common shares outstanding during the period. Diluted net loss per share is calculated using the weighted-average number of common shares outstanding and the dilutive effect of all potentially dilutive securities, including common stock equivalents and convertible securities. As the effect of dilutive securities outstanding during the period is anti-dilutive, diluted net loss per share is equal to basic net loss per share.

 

The components of basic and diluted net loss per share are as follows (in thousands, except loss per share data):

 

   Three Months Ended   Nine Months Ended 
   September 30,   September 30, 
   2025   2024   2025   2024 
Numerator:                    
Net loss available for common shareholders - basic and diluted  $(14,217)  $(15,517)  $(57,225)  $(65,760)
Denominator:                    
Weighted-average common shares outstanding - basic and diluted   295,461    213,004    262,235    206,164 
                     
Net loss per share - basic and diluted  $(0.05)  $(0.07)  $(0.22)  $(0.32)

 

For the three and nine months ended September 30, 2025 and 2024, the following securities from net loss per share have been excluded as the effect of including them would have been anti-dilutive:

 

   September 30,   September 30, 
(in millions)  2025   2024 
Outstanding options exercisable   0.7   0.7 
Nonvested restricted and performance stock units   14.2   12.7 
Shares of common stock that may be issued through conversion of the derivative liability   17.4    - 
Shares of common stock that may be issued through the exercise of warrants   5.8   -