Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Basic Earnings Per Share:

Numerator:

Net income (loss)

$

4,581

$

(19,855

)

$

(15,332

)

$

12,827

Income (loss) attributable to common stockholders - basic

$

4,581

$

(19,855

)

$

(15,332

)

$

12,827

Denominator:

Weighted-average shares outstanding - basic

9,706,193

8,743,733

9,644,704

8,723,589

Net income (loss) per share attributable to common stockholders - basic

$

0.47

$

(2.27

)

$

(1.59

)

$

1.47

Diluted Earnings Per Share:

Numerator:

Net income (loss)

$

4,581

$

(19,855

)

$

(15,332

)

$

12,827

Income (loss) attributable to common stockholders - diluted

$

4,581

$

(19,855

)

$

(15,332

)

$

12,827

Denominator:

Weighted-average shares outstanding - basic

9,706,193

8,743,733

9,644,704

8,723,589

Dilutive impact from:

Stock options to purchase common stock

—

—

—

—

Unvested restricted stock units

40,945

—

—

8,586

Shares issuable under employee stock purchase plan

—

—

—

1

Weighted-average shares outstanding - diluted

9,747,138

8,743,733

9,644,704

8,732,176

Net income (loss) per share applicable to common stockholders - diluted

$

0.47

$

(2.27

)

$

(1.59

)

$

1.47

Anti-dilutive potential common stock equivalents excluded from the calculation of net income (loss) per share:

Stock options to purchase common stock

1,548,690

1,200,467

1,548,690

1,200,467

Unvested restricted stock units

161,748

51,199

161,748

51,199

Shares issuable under employee stock purchase plan

1,464

19,991

922

12,701

Warrants to purchase common stock

32,379

32,379

32,379

32,379