Net loss per share is provided in accordance with ASC Sub-Topic 260-10, Earnings Per Share. Basic earnings per share is computed by dividing net loss for the period by the weighted-average number of common shares outstanding during the period. Diluted earnings per share gives effect to all dilutive potential common shares outstanding during the period. It is computed by dividing undistributed earnings allocated to common stockholders for the period by the weighted average number of common shares outstanding during the period, plus the dilutive effect of outstanding preferred shares, options and unvested stock units, and warrants outstanding pursuant to the treasury stock method.

As the Company incurred a net loss for the three and six months ended June 30, 2025 and 2024, the inclusion of preferred stock, certain options, unvested stock units, warrants, convertible promissory notes, and contingent Sponsor Earnout Shares in the calculation of diluted earnings per share would be anti-dilutive and, accordingly, were excluded from the diluted loss per share calculation.


	Three Months Ended June 30,		Six Months Ended June 30,
	2025	2024	2025	2024
Preferred shares outstanding	6,734,080	—	6,734,080	—
Options and unvested stock units outstanding	749,562	19,753	749,562	19,753
Warrants outstanding	4,076,371	1,036,983	4,076,371	1,036,983
Convertible promissory notes	1,580,647	—	1,580,647	—
Unvested shares related to VLD MSA	477,455	—	477,455	—
Contingent Sponsor Earnout Shares	2,054	2,054	2,054	2,054
Total	13,620,169	1,058,790	13,620,169	1,058,790