| NET LOSS PER COMMON SHARE |
Note 12 - Net Loss Per Common Share Basic and diluted net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Basic and diluted losses per share are calculated as follows (in thousands, except share and per share data): | | | | | | | | | | | | | | | | Three Months Ended March 31, | | | 2026 | | 2025 | Numerator: | | | | | | | Net loss | | $ | (8,575) | | $ | (12,870) | Net loss attributable to common stockholders—basic and diluted | | $ | (8,575) | | $ | (12,870) | Denominator: | | | | | | | Weighted average number of common shares outstanding | | | 5,056,994 | | | 5,016,149 | Net loss per share attributable to common stockholders—basic and diluted | | $ | (1.70) | | $ | (2.57) |
The following common stock equivalents were excluded from the calculation of diluted loss per share attributable to common stockholders because their inclusion would have been anti-dilutive: | | | | | | | | | | | | Three Months Ended March 31, | | | 2026 | | 2025 | Series A‑1 redeemable convertible preferred stock | | 1,234,568 | | 1,234,568 | Series A‑2 redeemable convertible preferred stock | | 2,362,204 | | 2,362,204 | Series B‑1 redeemable convertible preferred stock | | 2,718,539 | | 2,718,539 | Series C‑1 redeemable convertible preferred stock | | 3,570,724 | | 3,570,724 | Series C‑2 redeemable convertible preferred stock | | 2,513,698 | | 2,513,698 | Series D redeemable convertible preferred stock | | 5,950,204 | | 5,950,204 | Preferred stock warrants | | 295,558 | | 295,558 | Preferred stock issued upon conversion of convertible promissory notes (1) | | 560,024 | | — | Options to purchase common stock | | 5,538,921 | | 5,124,445 | Restricted stock units | | 1,394,670 | | 1,414,922 |
| (1) | Due to the multiple conversion options provided for within the Company’s convertible promissory notes, the Company applied the if-converted method to the calculation of the anti-dilutive shares underlying such notes to determine the estimated shares that the notes would convert into as of March 31, 2026. This assumption included consideration of the multiple conversion features and applying probability weightings to an assumed price of approximately $38 per share ($19 per share after applying the 50% discount). |
|
NOTE 13 - NET LOSS PER COMMON SHARE Basic and diluted net loss per common share is computed by dividing net loss by the weighted average number of common shares outstanding during the period. Basic and diluted losses per share are calculated as follows (in thousands, except share and per share data): | | | | | | | | | | | | | | | | Year ended December 31, | | | 2025 | | 2024 | Numerator: | | | | | | | Net loss | | $ | (73,845) | | $ | (54,344) | Net loss attributable to common stockholders - basic and diluted | | $ | (73,845) | | $ | (54,344) | Denominator: | | | | | | | Weighted average number of common shares outstanding | | | 5,026,704 | | | 5,009,250 | Net loss per share attributable to common stockholders - basic and diluted | | $ | (14.69) | | $ | (10.85) |
The following common stock equivalents were excluded from the calculation of diluted loss per share attributable to common stockholders because their inclusion would have been anti-dilutive: | | | | | | | | | | | | Year ended December 31, | | | 2025 | | 2024 | Series A-1 redeemable convertible preferred stock | | 1,234,568 | | 1,234,568 | Series A-2 redeemable convertible preferred stock | | 2,362,204 | | 2,362,204 | Series B-1 redeemable convertible preferred stock | | 2,718,539 | | 2,718,539 | Series C-1 redeemable convertible preferred stock | | 3,570,724 | | 3,570,724 | Series C-2 redeemable convertible preferred stock | | 2,513,698 | | 2,513,698 | Series D redeemable convertible preferred stock | | 5,950,204 | | 5,950,204 | Preferred stock warrants | | 295,558 | | 295,558 | Preferred stock issued upon conversion of convertible promissory notes (1) | | 560,024 | | — | Options to purchase common stock | | 5,546,772 | | 5,085,269 | Restricted stock units | | 1,394,670 | | 1,446,116 |
(1) Due to the multiple conversion options provided for within the Company’s convertible promissory notes, the Company applied the if-converted method to the calculation of the anti-dilutive shares underlying such notes to determine the estimated shares that the notes would convert into as of December 31, 2025. This assumption included consideration of the multiple conversion features and applying probability weightings to an assumed price of approximately $38 per share ($19 per share after applying the 50% discount).
|