Net Income (Loss) Per Common Share

6 Months Ended

Jun. 30, 2026

Net Loss Per Common Share

The following table summarizes the computation of basic and diluted net loss per common share.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Numerator:
Net loss	$	(2,267)	$	(8,102)	$	(9,095)	$	(14,787)
Adjustment for preferred stock cumulative dividends and deemed dividends	(4,281)		(4,614)		(9,719)		(9,021)



Numerator for basic and diluted net loss per common share	$	(6,548)	$	(12,716)	$	(18,814)	$	(23,808)

Denominator:
Weighted average common shares outstanding	52,677		50,404		51,538		50,197
Adjustment for participating securities	(2,421)		(2,429)		(2,273)		(2,401)
Adjustment for warrants outstanding (1)	—		1,458		717		1,459





Shares used to calculate basic and diluted net loss per common share	50,256		49,433		49,982		49,255








Basic and diluted net loss per common share	$	(0.13)	$	(0.26)	$	(0.38)	$	(0.48)

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(1) Outstanding warrants that are exercisable at an exercise price of $0.01 per share are included in shares outstanding for calculation of basic earnings per share (see Note 16).

On July 2, 2026, the Company closed the Private Placement (as defined in Note 18 - Subsequent Events - Private Placement), which resulted in the Company issuing 24,509,804 shares of the Company’s common stock.

On August 5, 2026, the Company completed the Exchange (as defined in Note 18 – Subsequent Events – Series D Perpetual Preferred Stock Redemption and Exchange), which resulted in the Company issuing 5,500,000 shares of newly issued common stock in exchange for 9,850 shares of Series D Preferred Stock.

The following table presents securities that could be potentially dilutive in the future that were excluded from the calculation of diluted net loss per common share because they had an anti-dilutive effect.


	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Stock options	62	134	68	151
Warrants	1,215	1,500	1,292	1,500
Performance share units	820	820	820	820
Total antidilutive securities	2,097	2,454	2,180	2,471

Stock options excluded from the calculations of diluted net loss per common share have a per share exercise price ranging from $7.93 to $24.55 for the three and six months ended June 30, 2026. Warrants excluded from the calculation of diluted net loss per common share have a per share exercise price of $11.03 (see Note 16). Performance share units are potentially dilutive when the related performance criterion has been met.