| Net Loss Per Share |
16. Net income (loss) per share
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|
|
|
|
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|
|
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|
Three months ended June 30, |
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|
Six months ended June 30, |
|
($ in thousands) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Net income (loss) for basic calculation |
|
$ |
(27,124 |
) |
|
$ |
(15,430 |
) |
|
$ |
5,475 |
|
|
$ |
(19,249 |
) |
Less: decrease in fair value of warrants |
|
|
— |
|
|
|
— |
|
|
|
(39,855 |
) |
|
|
— |
|
Net loss for diluted calculation |
|
$ |
(27,124 |
) |
|
$ |
(15,430 |
) |
|
$ |
(34,380 |
) |
|
$ |
(19,249 |
) |
|
|
|
|
|
|
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|
Weighted average shares outstanding for calculating basic income (loss) per share |
|
|
16,048,941 |
|
|
|
13,098,825 |
|
|
|
15,809,947 |
|
|
|
12,948,189 |
|
Add: Assumed exercise of warrants |
|
|
— |
|
|
|
— |
|
|
|
6,825,695 |
|
|
|
— |
|
Weighted average shares outstanding for calculating diluted loss per share |
|
|
16,048,941 |
|
|
|
13,098,825 |
|
|
|
22,635,642 |
|
|
|
12,948,189 |
|
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|
Basic income (loss) per share |
|
$ |
(1.69 |
) |
|
$ |
(1.18 |
) |
|
$ |
0.35 |
|
|
$ |
(1.49 |
) |
Diluted loss per share |
|
$ |
(1.69 |
) |
|
$ |
(1.18 |
) |
|
$ |
(1.52 |
) |
|
$ |
(1.49 |
) |
For purposes of computing diluted loss per share, weighted average common shares outstanding do not include potentially dilutive securities that are anti-dilutive, as shown below.
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|
Three months ended June 30, |
|
|
Six months ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Anti-dilutive securities excluded from calculating dilutive loss per share: |
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|
|
|
|
|
|
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|
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Shares of common stock issuable under stock option plans outstanding |
|
|
201,905 |
|
|
|
206,405 |
|
|
|
201,905 |
|
|
|
206,405 |
|
Shares of common stock issuable upon vesting of RSUs |
|
|
3,127,760 |
|
|
|
1,974,750 |
|
|
|
3,127,760 |
|
|
|
1,974,750 |
|
Shares of common stock issuable upon exercise of outstanding warrants |
|
|
6,836,237 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Potential common shares excluded from diluted net loss per share calculation |
|
|
10,165,902 |
|
|
|
2,181,155 |
|
|
|
3,329,665 |
|
|
|
2,181,155 |
|
|