v3.26.1
Net Income (Loss) Per Share
12 Months Ended
Dec. 31, 2025
Net Income (Loss) Per Share  
Net Income (Loss) Per Share

12. Net Income (Loss) Per Share

Basic and diluted net income (loss) per share for the years ended December 31, 2025 and 2024 was calculated as follows:

Year Ended December 31, 

  ​ ​ ​

2025

  ​ ​ ​

2024

Numerator:

 

Net income (loss)

$

4,822

$

(67,555)

Dividend attributable to down round feature of warrants

 

 

(234)

Net income (loss) attributable to common stockholders for basic and diluted income (loss) per share

$

4,822

$

(67,789)

Denominator:

Weighted average number of common shares outstanding - basic

 

66,140,346

 

37,550,677

Weighted average effect of potentially dilutive securities:

Effect of potentially dilutive common stock warrants

4,407,074

Effect of potentially dilutive restricted stock units

124,938

Weighted average common shares outstanding — diluted

70,672,358

37,550,677

Net income (loss) per share attributable to common stockholders:

Basic

$

0.07

$

(1.81)

Diluted

$

0.07

$

(1.81)

Included within weighted average common shares outstanding for the years ended December 31, 2025 and 2024, are 80,773,954, and 2,945,175 common shares issuable upon the exercise of the pre-funded warrants and penny warrants, as the warrants are exercisable at any time for nominal consideration, and as such, the shares are considered outstanding for the purpose of calculating basic and diluted net income (loss) per share attributable to common stockholders.

The Company’s potentially dilutive securities include RSUs, stock options and warrants. The following table includes the potential common shares of common stock, presented based on amounts outstanding at each period end, that were excluded from the computation of diluted net income (loss) per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect:

Year Ended December 31, 

  ​ ​ ​

2025

  ​ ​ ​

2024

Restricted stock units to purchase common stock

 

14,048,733

220,000

Options to purchase common stock

3,757,238

6,416,744

Warrants to purchase common stock

2,612,667

3,336,146

 

20,418,638

9,972,890