Net Loss per Share

12 Months Ended

Dec. 31, 2025

The following table sets forth the computation of basic and diluted net loss per share:


	Year Ended December 31,
	2025		2024		2023
Net loss	$	(1,079,586)	$	(221,315)	$	(614,928)

Basic and diluted weighted average number of shares of common stock outstanding	747,702,265		718,541,896		619,646,180


Basic net loss per share	$	(1.44)	$	(0.31)	$	(0.99)
Diluted net loss per share	$	(1.44)	$	(0.31)	$	(0.99)

Basic net loss per share is computed by dividing the net loss by the weighted-average number of common shares outstanding for the period. Diluted net loss per share is computed by dividing the diluted net loss by the weighted-average number of common shares outstanding for the period, including potentially dilutive common shares. Since the Company was in a loss position for all periods presented, basic net loss per share is the same as diluted net loss per share for all periods, as the inclusion of all potential common share equivalents outstanding would have been antidilutive.

Because the 2023 Rights Offering (see Note 13) exercise price of $1.05 per share was less than the closing price of $1.82 per share on March 1, 2023, the expiration, the Company has retroactively adjusted earnings per share and the weighted average number of shares outstanding for the bonus element for the year ended December 31, 2023.

The following potentially dilutive securities were excluded from the computation of the diluted net loss per share of common stock for the periods presented because their effect would have been anti-dilutive:


	Year Ended December 31,
	2025	2024	2023
Options to purchase common stock	115,614,728	68,920,334	54,209,289
Warrants	—	4,629,988	5,015,642
Shares expected to be purchased under employee stock purchase plan	65,905	86,550	155,163
Total	115,680,633	73,636,872	59,380,094

Stock options that are outstanding and contain improbable vesting criteria are excluded from the presentation of common stock equivalents outstanding in the table above.