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Net Loss Per Share
 9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Net Loss Per Share

Note 7: Net Loss Per Share

The Company computes net loss per share of Class A and Class B common stock using the two class method. Under the provisions of the two class method, basic net loss per share is computed by dividing net loss applicable to common stockholders by the weighted average number of common shares outstanding during the year. Diluted net loss per share is computed by dividing net loss applicable to common stockholders by the weighted average number of common and dilutive common equivalent shares outstanding during the period. The computation of the diluted net loss per share of Class B common stock assumes the conversion of Class A to Class B common stock, while the diluted net loss per share of Class A common stock does not assume the conversion of those shares.

In accordance with the two class method, the undistributed loss for each period are allocated based on the contractual participation rights of the Class A and Class B common shares and the restricted shares as if the losses for the periods had been distributed. Considering the terms of the Company’s charter which provides that, if and when dividends are declared on its common stock in accordance with Delaware General Corporation Law, equivalent dividends shall be paid with respect to the shares of Class A and Class B common stock and that both classes of common stock have identical dividend rights and would share equally in the Company’s net assets in the event of liquidation, the Company has allocated undistributed losses on a proportionate basis.

Instruments granted in unvested share-based payment awards that contain nonforfeitable rights to dividends or dividend equivalents, whether paid or unpaid, are participating securities prior to vesting. As such, the Company’s RSAs are considered participating securities for purposes of calculating loss per share.

The following tables present the computation of basic net loss per share applicable to common stockholders for the periods ended:

 

 

Three Months Ended September 30,

 

 

 

2025

 

 

2024

 

(In Thousands, Except Per Share Amounts)

 

Class A

 

 

Class B

 

 

Class A

 

 

Class B

 

Basic net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss applicable to common stockholders

 

$

(108

)

 

$

(912

)

 

$

(90

)

 

$

(741

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares outstanding - basic

 

 

4,661

 

 

 

39,247

 

 

 

4,661

 

 

 

38,539

 

Basic net loss per share applicable to common stockholders

 

$

(0.02

)

 

$

(0.02

)

 

$

(0.02

)

 

$

(0.02

)

 

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

(In Thousands, Except Per Share Amounts)

 

Class A

 

 

Class B

 

 

Class A

 

 

Class B

 

Basic net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss applicable to common stockholders

 

$

(310

)

 

$

(2,608

)

 

$

(328

)

 

$

(2,709

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares outstanding - basic

 

 

4,661

 

 

 

39,183

 

 

 

4,661

 

 

 

38,445

 

Basic net loss per share applicable to common stockholders

 

$

(0.07

)

 

$

(0.07

)

 

$

(0.07

)

 

$

(0.07

)

The following tables present the computation of diluted net loss per share for the periods ended:

 

 

Three Months Ended September 30,

 

 

 

2025

 

 

2024

 

(In Thousands, Except Per Share Amounts)

 

Class A

 

 

Class B

 

 

Class A

 

 

Class B

 

Diluted net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss applicable to common stockholders

 

$

(108

)

 

$

(912

)

 

$

(90

)

 

$

(741

)

Reallocation of net loss for Class A to Class B shares

 

 

—

 

 

 

(108

)

 

 

—

 

 

 

(90

)

Diluted net loss applicable to common stockholders:

 

$

(108

)

 

$

(1,020

)

 

$

(90

)

 

$

(831

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares outstanding - basic

 

 

4,661

 

 

 

39,247

 

 

 

4,661

 

 

 

38,539

 

Conversion of Class A to B common shares outstanding

 

 

—

 

 

 

4,661

 

 

 

—

 

 

 

4,661

 

Weighted average number of shares outstanding - diluted

 

 

4,661

 

 

 

43,908

 

 

 

4,661

 

 

 

43,200

 

Diluted net loss per share applicable to common stockholders

 

$

(0.02

)

 

$

(0.02

)

 

$

(0.02

)

 

$

(0.02

)

 

 

 

 

 

 

 

 

 

 

 

 

Anti-dilutive securities

 

 

—

 

 

 

3,716

 

 

 

—

 

 

 

6,316

 

 

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

(In Thousands, Except Per Share Amounts)

 

Class A

 

 

Class B

 

 

Class A

 

 

Class B

 

Diluted net loss per share:

 

 

 

 

 

 

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss applicable to common stockholders

 

$

(310

)

 

$

(2,608

)

 

$

(328

)

 

$

(2,709

)

Reallocation of net loss for Class A to Class B shares

 

 

—

 

 

 

(310

)

 

 

—

 

 

 

(328

)

Diluted net loss applicable to common stockholders:

 

$

(310

)

 

$

(2,918

)

 

$

(328

)

 

$

(3,037

)

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average number of shares outstanding - basic

 

 

4,661

 

 

 

39,183

 

 

 

4,661

 

 

 

38,445

 

Conversion of Class A to B common shares outstanding

 

 

—

 

 

 

4,661

 

 

 

—

 

 

 

4,661

 

Weighted average number of shares outstanding - diluted

 

 

4,661

 

 

 

43,844

 

 

 

4,661

 

 

 

43,106

 

Diluted net loss per share applicable to common stockholders

 

$

(0.07

)

 

$

(0.07

)

 

$

(0.07

)

 

$

(0.07

)

 

 

 

 

 

 

 

 

 

 

 

 

Anti-dilutive securities

 

 

—

 

 

 

5,642

 

 

 

—

 

 

 

5,621