NET LOSS PER SHARE

12 Months Ended

Dec. 31, 2025

15. NET LOSS PER SHARE


	Years Ended December 31,
	2025		2024
Numerator:
Net loss – basic and diluted	$	(25,315)	$	(19,898)
Denominator:
Weighted-average number of shares of common stock outstanding – basic and diluted	24,555,381		2,020,077
Net loss per share – basic and diluted	$	(1.03)	$	(9.85)

Basic net loss per share is the same as diluted net loss per share as the inclusion of potential common shares outstanding would have been anti-dilutive. The Company's convertible preferred stock Series constitute

participating securities; however, as a result of the net loss position, they are excluded from the calculation of basic net loss per share.

Potentially dilutive securities that were not included in the preceding calculations because they would be anti-dilutive were as follows.


	Years Ended December 31,
	2025	2024
Convertible preferred stock (all series)	19,279,825	38,665,583
Warrants on common stock	90,763	15,015
Options on common stock	2,027,469	2,298,947
Restricted Stock Units	5,078	—
Total	21,403,135	40,979,545