11. NET LOSS PER SHARE Basic and diluted net loss per share of Common Stock, Series B Preferred Stock and Series C Preferred Stock is calculated as follows (in thousands except share and per share amounts):
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For the Three Months Ended March 31, 2026 |
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Series B
Preferred Stock |
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Series C
Preferred Stock |
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Common Stock |
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Net loss per share, basic and diluted: |
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Numerator |
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Allocation of losses |
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$ |
(5,789 |
) |
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$ |
(664 |
) |
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$ |
(21,330 |
) |
Denominator |
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Weighted-average shares outstanding |
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16,366 |
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20,079 |
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34,299,182 |
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Net loss per share, basic and diluted |
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$ |
(353.72 |
) |
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$ |
(33.07 |
) |
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$ |
(0.62 |
) |
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For the Three Months Ended March 31, 2025 |
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Series B
Preferred Stock |
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Series C
Preferred Stock |
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Common Stock |
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Net loss per share, basic and diluted: |
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Numerator |
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Allocation of losses |
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$ |
— |
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$ |
— |
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|
$ |
(2,533 |
) |
Denominator |
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Weighted-average shares outstanding |
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— |
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— |
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1,322,011 |
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Net loss per share, basic and diluted |
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$ |
— |
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$ |
— |
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|
$ |
(1.92 |
) |
The following outstanding potentially dilutive securities have been excluded from the calculation of diluted net loss per share, as their effect is anti-dilutive:
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For the Three Months Ended March 31, |
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2026 |
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2025 |
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Stock options to purchase Common Stock |
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4,045,815 |
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236,092 |
|
Restricted stock units |
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|
957,513 |
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|
10,452 |
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Outstanding Paramora warrants |
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628,302 |
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— |
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