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Net Loss Per Share (Tables)
12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Summary of Computation of Basic and Diluted Net Loss Per Share

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

 

 

Year Ended December 31,

 

(in thousands, except share and per share data)

 

2024

 

 

2023

 

Basic net loss per common share calculation:

 

 

 

 

 

 

Net loss attributable to common stockholders

 

$

(62,746

)

 

$

(4,383

)

Undistributed loss to preferred stock stockholders

 

 

 

 

 

1,418

 

Net loss attributable to common stockholders – basic

 

$

(62,746

)

 

$

(2,965

)

Weighted-average shares of common stock outstanding – basic

 

 

60,263,190

 

 

 

38,048,516

 

Net loss per share of common stock – basic

 

$

(1.04

)

 

$

(0.08

)

 

 

 

Diluted net loss per common share calculation:

 

 

Net loss attributable to common stockholders

 

$

(62,746

)

 

$

(4,383

)

Reverse: interest expense and change in fair value on derivative liability

 

 

 

 

 

(4,322

)

Net loss attributable to common stockholders

 

 

(62,746

)

 

 

(8,705

)

Undistributed loss to preferred stock stockholders

 

 

 

 

 

2,817

 

Net loss attributable to common stockholders – diluted

 

$

(62,746

)

 

$

(5,888

)

Weighted-average shares of common stock outstanding – basic

 

60,263,190

 

 

38,048,516

 

Convertible promissory note

 

 

 

 

 

5,174,618

 

Weighted-average shares of common stock – diluted

 

60,263,190

 

 

43,223,134

 

Net loss per share of common stock – diluted

$

(1.04

)

$

(0.14

)

Summary of Potentially Dilutive Securities Excluded from Computation of Diluted Weighted-Average Shares of Common Stock Outstanding

The following potentially dilutive securities have been excluded from the computation of diluted weighted-average shares of common stock outstanding, as they would be anti-dilutive:

 

 

 

As of December 31,

 

 

 

2024

 

 

2023

 

Outstanding stock options and restricted stock units

 

 

4,673,638

 

 

 

3,470,172

 

Convertible preferred stock warrants

 

 

 

 

 

580,729

 

Common stock warrants

 

 

 

 

 

75,305

 

Convertible promissory note

 

 

5,305,861

 

 

 

 

 

 

 

9,979,499

 

 

 

4,126,206