| Schedule of basic and diluted losses per share |
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) |
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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) |
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| Schedule of common stock equivalents excluded from the calculation of diluted loss per share attributable to common stockholders on 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). |
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| | | | | | | | | | | | 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).
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