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Net Income (Loss) per Share | 6 Months Ended
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Jun. 30, 2024
Net Income (Loss) per Share |
Net Income (Loss) per Share | 5. Net Income (Loss) per Share The computation of basic EPS is based on the weighted-average number of the Company’s Common Stock outstanding. The computation of diluted EPS is based on the weighted-average number of the Company’s Common Stock outstanding and potential dilutive common stock, which primarily includes conversion of convertible debt. Diluted EPS is computed using the more dilutive of the treasury stock method, which reflects the potential dilution that would occur if securities or other contracts to issue common stock were exercised or converted to the Company’s Common Stock. Common Stock options, warrants and unvested restricted stock units were not included in dilutive EPS as their impact would be antidilutive. The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders for the periods presented (in thousands, except share and per share data): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended | ​
​ | ​ | June 30, | ​ | June 30, | ​
​ |  | 2024 |  | 2023 |  | 2024 |  | 2023 |
Numerator: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Net income (loss) attributable to common stockholders, basic | ​ | $ | 8,986 | ​ | $ | (3,547) | ​ | $ | (16,035) | ​ | $ | (18,037) | ​
Gain from change in fair value of convertible debt | ​ | ​ | (23,397) | ​ | ​ | (6,036) | ​ | ​ | (10,372) | ​ | ​ | — | ​
Net loss attributable to common stockholders, diluted | ​ | $ | (14,411) | ​ | $ | (9,583) | ​ | $ | (26,407) | ​ | $ | (18,037) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average shares outstanding, basic | ​ | ​ | 36,154,521 | ​ | ​ | 36,068,130 | ​ | ​ | 36,139,873 | ​ | ​ | 36,056,649 | ​
Shares issuable upon the conversion of the convertible debt | ​ | ​ | 22,092,105 | ​ | ​ | 20,476,568 | ​ | ​ | 22,092,105 | ​ | ​ | — | ​
Weighted average shares outstanding, diluted | ​ |  | 58,246,626 | ​ |  | 56,544,698 | ​ |  | 58,231,978 | ​ |  | 36,056,649 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Net income (loss) per share, basic | ​ | $ | 0.25 | ​ | $ | (0.10) | ​ | $ | (0.44) | ​ | $ | (0.50) | ​
Net loss per share, diluted | ​ | $ | (0.25) | ​ | $ | (0.17) | ​ | $ | (0.45) | ​ | $ | (0.50) | ​
​ The following outstanding securities as of June 30, 2024 and December 31, 2023 have been excluded from the computation of dilutive weighted average shares outstanding, as they would have been anti-dilutive:
​ | ​ | ​ | ​ | ​ | ​
​ |  | June 30, 2024 |  | December 31, 2023 |
Outstanding stock options |  | 4,645,737 |  | 3,165,216 | ​
Unvested restricted stock units | ​ | 290,000 | ​ | 200,000 | ​
Shares issuable upon the conversion of convertible debt | ​ | — | ​ | 21,293,861 | ​
Outstanding warrants | ​ | 19,365,847 | ​ | 19,365,847 | ​
Total |  | 24,301,584 |  | 44,024,924 |
​

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