v3.26.1
Note 11 - Net Loss Per Share
 6 Months Ended
Jun. 30, 2026
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 11 - Net Loss Per Share

 

Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. The weighted-average number of shares of Common Stock outstanding does not include any potentially dilutive securities or unvested restricted shares of Common Stock ("Restricted Stock"). 

 

Diluted net loss per share is computed by giving effect to all potential shares of Common Stock, including stock options, preferred stock, warrants, and unvested Restricted Stock, to the extent they are dilutive. For the three and six months ended June 30, 2026, and 2025, all such Common Stock equivalents have been excluded from diluted net loss per share as the effect would be anti-dilutive. 

 

The following table sets forth the computation of the Company’s basic and diluted net loss per share (in thousands, except share and per share data):

 

  

Three Months Ended June 30,

  

Six Months Ended June 30,

 
  

2026

  

2025

  

2026

  

2025

 

Numerator:

                

Net income (loss)

 $(3,290) $(605) $(1,593) $(1,277)

Less: preferred stock dividends

  4   13   8   25 

Net income (loss) attributable to common stockholders

 $(3,294) $(618) $(1,601) $(1,302)

Denominator:

                

Weighted-average number of shares of Common Stock for basic and diluted net loss per share

  3,913,471   1,613,483   3,913,471   1,514,829 

Basic and diluted net income (loss) per share

 $(0.84) $(0.38) $(0.41) $(0.86)

 

The following table represents the potential shares of Common Stock that were excluded from the computation of diluted weighted-average number of shares for the six months ended June 30, 2026, and 2025, because including them would have had an anti-dilutive effect:

 

  

As of June 30,

 
  

2026

  

2025

 

Common stock issuable upon conversion of Series F Preferred Stock (1)

  47,835   103,578 

Common stock issuable upon conversion of Preferred Warrants (2)

  8,097,347   8,249,867 

Common stock issuable upon exercise of warrants for Common Stock

  2,202,467   2,066,809 

 

 

(1)

Calculation assumes conversion of the stated value and accrued dividends of the Series F Preferred Stock into Common Stock at a conversion price of $3.77 per share.

 

(2)

Calculation assumes exercise of the Preferred Warrants for cash into Series F Preferred Stock and subsequent conversion of the Series F Preferred Stock into Common Stock at a conversion price of $3.77.

 

The Pre-Funded warrants are included in the weighted average shares outstanding.