| Net Loss Per Share |
Note 11. Net Income (Loss) Per Share Net income (loss) per share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss), adjusted for gains on the revaluation of warrant liability (see Note 9), by the weighted average number of shares of common stock outstanding during the period, adjusted for the potential dilutive effect of the Company’s prefunded warrants (see Note 9), outstanding stock options, outstanding RSUs, and shares issuable under the ESPP. The treasury stock method was used to calculate the potential dilutive effect of these common stock equivalents. | | | | | | | | | Three Months Ended | (in thousands, except share and per share data) | | March 31, | | | 2026 | | 2025 | Numerator: | | | | | | | Net loss from continuing operations | | $ | (7,894) | | $ | (1,887) | Income (loss) from discontinued operations | | | 425 | | | (2,046) | Net loss | | | (7,469) | | | (3,933) | Less: dilutive gain on revaluation of warrant liability | | | — | | | (5,201) | Net loss for diluted earnings per share | | $ | (7,469) | | $ | (9,134) | | | | | | | | Denominator: | | | | | | | Weighted average number of common shares - basic | | | 42,998,504 | | | 38,616,207 | Effect of dilutive common and prefunded warrants | | | — | | | 4,296,904 | Weighted average number of common shares - diluted | | | 42,998,504 | | | 42,913,111 | | | | | | | | Net loss from continuing operations per share - basic | | $ | (0.18) | | $ | (0.05) | Net loss from continuing operations per share - diluted | | $ | (0.18) | | $ | (0.17) | Net income (loss) from discontinued operations per share - basic | | $ | 0.01 | | $ | (0.05) | Net income (loss) from discontinued operations per share - diluted | | $ | 0.01 | | $ | (0.05) | Net loss per share - basic | | $ | (0.17) | | $ | (0.10) | Net loss per share - diluted | | $ | (0.17) | | $ | (0.21) |
Certain of the Company’s potential dilutive securities have been excluded from the computation of diluted net loss per share as the effect would be anti-dilutive. The Company excluded the following potential common shares, presented based on amounts outstanding at period end, from the computation of diluted net loss per share: | | | | | | | Three Months Ended | | | March 31, | | | 2026 | | 2025 | Options to purchase common stock | | 6,225,169 | | 3,204,215 | Restricted stock units | | 642,630 | | 1,342,766 | Class A common stock warrants | | 187,969 | | 187,969 | 2023 Prefunded Warrants | | 2,023,326 | | — | 2024 Prefunded Warrants | | 725,000 | | — | 2025 Prefunded Warrants | | 480,000 | | 480,000 | Total | | 10,284,094 | | 5,214,950 |
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