| Schedule of Calculation of Basic and Diluted Net Loss Per Common Share |
The following table includes the calculation of basic and diluted net loss per common share:
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended | | Six Months Ended | | (dollars in thousands, except share data) | June 30, 2026 | | June 30, 2025 | | June 30, 2026 | | June 30, 2025 | | Numerator: | | | | | | | | | Net loss attributable to Voyager Technologies, Inc. | $ | (46,490) | | | $ | (31,382) | | | $ | (90,473) | | | $ | (58,320) | | | Accrued value of preferred stock dividends | — | | | 5,258 | | | — | | | 11,259 | | | Net loss attributable to common shareholders | $ | (46,490) | | | $ | (36,640) | | | $ | (90,473) | | | $ | (69,579) | | | | | | | | | | | Denominator: | | | | | | | | | Weighted-average common shares outstanding, basic | 58,521,968 | | | 29,695,203 | | | 58,430,737 | | | 22,017,362 | | | Weighted-average common shares outstanding, diluted | 58,521,968 | | | 29,695,203 | | | 58,430,737 | | | 22,017,362 | | | | | | | | | | | Net loss per share: | | | | | | | | | Basic | $ | (0.79) | | | $ | (1.23) | | | $ | (1.55) | | | $ | (3.16) | | | Diluted | $ | (0.79) | | | $ | (1.23) | | | $ | (1.55) | | | $ | (3.16) | |
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The Company excluded the following potential common shares, presented based on amounts outstanding at each period end, from the computation of diluted net loss per share for the periods indicated: | | | | | | | | | | | | | (in shares of common stock) | June 30, 2026 | | June 30, 2025 | | Equity Compensation Awards | 5,256,508 | | | 4,458,501 | | | Warrants | 1,066,621 | | | 1,104,489 | | | | | | | | | | | Total common stock equivalents | 6,323,129 | | | 5,562,990 | |
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