Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2026

16. Net Income (Loss) Per Share

Net Income (Loss) Per Share

Basic net income (loss) and diluted net loss per share attributable to common stockholders was computed by dividing net loss by the weighted-average common shares outstanding for the period (in thousands, except share and per share data). Diluted net income per share attributable to common stockholders was computed by dividing net income by the weighted-average common shares outstanding and potentially dilutive shares for the period (in thousands, except share and per share data):


	THREE MONTHS ENDED MARCH 31,
Numerator:	2026			2025
Net income (loss)	$	(8,861	)	$	7,379
Denominator:
Weighted-average shares of common stock outstanding, basic		62,361,897			50,482,278
Net income (loss) per share, basic	$	(0.14	)	$	0.15
Add potentially dilutive shares:
Dilutive effect of outstanding stock options (as converted to common stock)		—			2,926,490
Dilutive effect of outstanding warrants for common stock		—			1,357,074
Weighted-average shares of common stock outstanding, diluted		62,361,897			54,765,842
Net income (loss) per share, diluted	$	(0.14	)	$	0.13

The Company’s potentially dilutive securities have been excluded from the computation of dilutive net loss per share for the three months ended March 31, 2026, as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of shares of common stock outstanding used to calculate both basic and diluted net loss per share is the same.

The Company excluded the following potential shares of common stock from the computation of diluted net loss per share because including them would have had an anti-dilutive effect.


	AS OF MARCH 31,
	2026
Outstanding warrants for common stock		7,762,350
Outstanding stock options (as converted to common stock)		8,443,145
Unvested performance stock units		300,000
		16,505,495