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Net Income (Loss) Per Share Attributable to Shareholders (Tables) | 9 Months Ended
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Sep. 30, 2025
Earnings Per Share [Abstract] |
Schedule of Earnings Per Share, Basic and Diluted | The following table sets forth the computation of basic and dilutive net income (loss) per share attributable to common stockholders for the three and nine months ended September 30, 2025 and 2024 (in thousands, except per share amounts):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Basic net income (loss) per share: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income (loss) | $ | 5,711 |  |  | $ | (14,904) |  |  | $ | 1,477 |  |  | $ | (30,093) |
Less: Net income attributable to participating securities | (4,204) |  |  | — |  |  | (1,089) |  |  | — |
Net income (loss) attributable to common stockholders | 1,507 |  |  | (14,904) |  |  | 388 |  |  | (30,093) |
Denominator: |  |  |  |  |  |  |
Weighted-average shares used in calculating net income (loss) per share, basic | 10,429,583 |  |  | 10,107,487 |  |  | 10,376,253 |  |  | 10,049,097 |
Net income (loss) per share, basic | $ | 0.14 |  |  | $ | (1.47) |  |  | $ | 0.04 |  |  | $ | (2.99) |
Diluted net income (loss) per share: |  |  |  |  |  |  |
Numerator: |  |  |  |  |  |  |
Net income (loss) attributable to common stockholders | $ | 1,507 |  |  | $ | (14,904) |  |  | $ | 388 |  |  | $ | (30,093) |
Denominator: |  |  |  |  |  |  |
Weighted-average shares used in calculating net income (loss) per share, basic | 10,429,583 |  |  | 10,107,487 |  |  | 10,376,253 |  |  | 10,049,097 |
Effect of dilutive securities: |  |  |  |  |  |  |
Outstanding stock options | 4,336,722 |  |  | — |  |  | 3,940,885 |  |  | — |
Warrants to purchase redeemable convertible preferred stock | 8,798 |  |  | — |  |  | 8,616 |  |  | — |
Warrants to purchase common stock | 98,294 |  |  | — |  |  | 93,366 |  |  | — |
Restricted stock awards in exchange for non-recourse note | 698,552 |  |  | — |  |  | 698,245 |  |  | — |
Weighted-average shares used in calculating net income (loss) per share, diluted | 15,571,949 |  |  | 10,107,487 |  |  | 15,117,365 |  |  | 10,049,097 |
Net income (loss) per share, diluted | $ | 0.10 |  |  | $ | (1.47) |  |  | $ | 0.03 |  |  | $ | (2.99) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share | Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows for the three and nine months ended September 30, 2025 and 2024:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2025 |  | 2024 |  | 2025 |  | 2024
Redeemable convertible preferred stock | 29,084,235 |  | 29,084,235 |  | 29,084,235 |  | 29,084,235
Outstanding stock options | - |  | 6,565,802 |  | - |  | 6,565,802
Restricted stock awards in exchange for non-recourse note | - |  | 700,000 |  | - |  | 700,000
Warrants to purchase common stock | - |  | 121,566 |  | - |  | 121,566
Warrants to purchase redeemable convertible preferred stock | - |  | 9,660 |  | - |  | 9,660
Unvested early-exercised options | - |  | 500 |  | - |  | 500

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- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + Details
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