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Net Loss per Share
 9 Months Ended
Sep. 30, 2025
Loss per common share:  
Net Loss per Share

14. Net Loss per Share

 

Basic net loss per common share is calculated by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted net loss per common share is calculated by dividing net loss by the diluted weighted average number of common shares outstanding during the period. The diluted shares include the dilutive effect of stock-based awards based on the treasury stock method. In periods where a net loss is recorded, no effect is given to potentially dilutive securities, since the effect would be anti-dilutive.

 

The following table sets forth the computation of the Company’s basic and diluted net loss per share attributable to common stockholders (in thousands, except share and per share data):

 

   2025   2024   2025   2024 
   Three Months Ended   Nine Months Ended 
   September 30,   September 30, 
   2025   2024   2025   2024 
Net loss  $(6,649)  $(5,669)  $(16,176)  $(16,363)
Weighted average common shares outstanding, basic and diluted   10,776,739    5,773,993    9,674,378    4,833,091 
Net loss per share, basic and diluted  $(0.62)  $(0.98)  $(1.67)  $(3.39)

 

The following table sets forth the securities that were anti-dilutive for diluted EPS for the periods presented but which could potentially dilute EPS in the future:

 

September 30,  2025   2024 
Common stock warrants   2,269,356    2,269,356 
Common stock options and RSUs   2,400,572    1,775,444 
Unit Purchase Options   20,182    20,182 
Shares related to Series B-2 convertible preferred stock   2,896,650    6,636,981 
Shares related to Series B-3 convertible preferred stock   9,315,909    10,026,859 
Shares related to Series C convertible preferred stock   13,152,537    - 
Shares related to Series D convertible preferred stock   4,831,185    - 
Convertible Notes   5,859,849    - 
Total   40,746,240    20,728,822 

 

Common Stock warrants include the 2022 Purchase Warrants, 2023 Purchase Warrants, 2022 Inducement Warrants and warrants issued in the Company’s initial public offering.