NET LOSS PER SHARE

12 Months Ended

Mar. 31, 2025

Net loss per share for the years ended December 31, 2022 and 2023, the three months ended March 31, 2024, and the year ended March 31, 2025 are as follows (in thousands, except per share data):


	Year Ended December 31,				Three Months Ended March 31,			Year Ended March 31,
	2022		2023			2024			2025
Basic and diluted loss per share
Net loss attributable to common stockholders	$	(16,891)	$	(17,307)		$	(19,639)		$	(51,012)

Net loss per share attributable to common stockholders - basic and diluted	$	(0.48)	$	(0.49)		$	(0.55)		$	(0.43)

Weighted-average common share outstanding - basic and diluted	35,393		35,628			35,813			119,877

Basic loss per share is calculated by dividing net loss attributable to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted loss per share reflects the potential dilution, assuming common shares were issued upon the exercise of outstanding options, and the proceeds thereof were used to purchase outstanding common shares. Dilutive potential common shares include outstanding stock options, warrants and restricted stock and performance share awards. We include participating securities (unvested share-based payment awards and equivalents that contain non-forfeitable rights to dividends or dividend equivalents) in the computation of earnings per share pursuant to the two-class method. The Company’s participating securities consist solely of preferred stock, which have contractual participation rights equivalent to those of stockholders of unrestricted common stock. The two-class method of computing earnings per share is an

allocation method that calculates earnings per share for common stock and participating securities. During periods of net loss, no effect is given to the participating securities because they do not share in the losses of the Company.