3.
NET LOSS PER SHARE
Basic
net loss per share is calculated using the weighted-average number of common shares outstanding during the period. Diluted net loss per
share is calculated using the weighted-average number of common shares outstanding and the dilutive effect of all potentially dilutive
securities, including common stock equivalents and convertible securities. As the effect of dilutive securities outstanding during the
period is anti-dilutive, diluted net loss per share is equal to basic net loss per share.
The
components of basic and diluted net loss per share are as follows (in thousands, except loss per share data):
SCHEDULE OF BASIC AND DILUTED NET LOSS PER SHARE
| | |
Three Months
Ended | |
| | |
March
31, | |
| | |
2026 | | |
2025 | |
| Numerator: | |
| | | |
| | |
| Net loss available for common shareholders - basic and diluted | |
$ | (25,294 | ) | |
$ | (28,779 | ) |
| Denominator: | |
| | | |
| | |
| Weighted-average common shares outstanding - basic and diluted | |
| 308,650 | | |
| 235,933 | |
| | |
| | | |
| | |
| Net loss per share - basic and diluted | |
$ | (0.08 | ) | |
$ | (0.12 | ) |
For
the three months ended March 31, 2026 and 2025, the following securities from net loss per share have been excluded as the effect of
including them would have been anti-dilutive:
SCHEDULE OF ANTIDILUTIVE SECURITIES EXCLUDED FROM COMPUTATION OF EARNINGS PER SHARE
| | |
| | |
| |
| | |
March 31, | |
| (in millions) | |
2026 | | |
2025 | |
| Outstanding options exercisable | |
| 0.6 | | |
| 0.7 | |
| Nonvested restricted and performance stock units | |
| 7.1 | | |
| 12.4 | |
| Shares of common stock that may be issued through conversion of the derivative liability | |
| 72.8 | | |
| 20.5 | |
| Shares of common stock that may be issued through the exercise of warrants | |
| 5.8 | | |
| 5.8 | |
| Antidilutive securities excluded from computation of earnings per share, amount | |
| 5.8 | | |
| 5.8 | |
|