Basic net income (loss) per share is calculated by dividing the net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted net income (loss) per share is calculated using the weighted-average number of common shares outstanding, plus potential dilutive common stock during the period. Diluted net loss per share is the same as basic net loss per share in the period when the effect of the potentially dilutive securities is anti-dilutive. The pre-funded warrants were included in both the basic and diluted EPS calculation.

The following table presents the calculation of basic and diluted net income (loss) per share:


	Year Ended December 31,
	2025			2024
Numerator:
Net income (loss) attributable to common stockholders	$	(20,370	)	$	31,869

Denominator:
Basic
Weighted-average common shares outstanding		137,935,873			77,516,177
Weighted-average pre-funded warrants		—			6,923,126
Weighted-average common shares outstanding used to calculate basic net income (loss) per share		137,935,873			84,439,303
Diluted
Weighted-average common shares outstanding used to calculate basic net income (loss) per share		137,935,873			84,439,303
Effect of potentially dilutive securities:
Stock options, ESPP & RSUs		—			305,813
Weighted-average common shares outstanding used to calculate diluted net income (loss) per share		137,935,873			84,745,116

Net income (loss) per share, basic and diluted
Basic	$	(0.15	)	$	0.38
Diluted	$	(0.15	)	$	0.38

The following weighted-average outstanding shares of potentially dilutive securities are excluded from the computation of diluted net loss per share for the periods presented, because including them would have been anti-dilutive:


	Year Ended December 31,
	2025		2024
Options and ESPP to purchase common stock		16,371,358		14,452,982
Common stock warrants		8,653,847		11,538,462
RSUs		3,014,539		227,925
Total potentially dilutive weighted-average outstanding shares		28,039,743		26,219,369