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NET LOSS PER COMMON SHARE
 3 Months Ended
Mar. 31, 2026
Earnings Per Share [Abstract]  
NET LOSS PER COMMON SHARE

 

6.NET LOSS PER COMMON SHARE

 

The following table reconciles the weighted-average shares outstanding for basic and diluted net loss per share for the three months ended March 31, 2026 and 2025:

 

   Three Months Ended March 31, 
   2026   2025 
   ($ in thousands, except share and per share amounts) 
Basic and Diluted:          
Net loss attributable to common shareholders  $(443)  $(863)
Weighted-average common shares used to compute basic and diluted loss per share   42,471,949    23,813,943 
Net loss attributable to common shareholders per share - basic and diluted  $(0.01)  $(0.04)

 

 

The net loss attributable to common shareholders includes the preferred stock dividend amounts earned and declared for the three months ended March 31, 2026 and 2025 of approximately $1.4 million and $2.8 million, respectively. The dividend payable at March 31, 2026 and December 31, 2025 in the condensed consolidated balance sheets represents one month and four months, respectively, of dividends declared, but not paid.

 

At March 31, 2026 and 2025, the 106,400 and 154,200 unvested equity restricted stock units (“RSUs”) respectively, as discussed in Note 14, have been excluded from the above calculations as they were anti-dilutive.