| Net Loss Per Share |
11. NET LOSS PER SHARE Basic and diluted net loss per share of Common Stock, Series B Preferred Stock and Series C Preferred Stock is calculated as follows (in thousands except share and per share amounts):
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For the Three Months Ended June 30, 2026 |
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Series B
Preferred Stock |
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Series C
Preferred Stock |
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Common Stock |
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Net loss per share, basic and diluted: |
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Numerator |
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Allocation of losses |
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$ |
(6,441 |
) |
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$ |
(678 |
) |
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$ |
(24,055 |
) |
Denominator |
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Weighted-average shares outstanding |
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16,366 |
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1,722 |
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61,117,057 |
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Net loss per share, basic and diluted |
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$ |
(393.59 |
) |
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$ |
(393.59 |
) |
|
$ |
(0.39 |
) |
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For the Three Months Ended June 30, 2025 |
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Series B
Preferred Stock |
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Series C
Preferred Stock |
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Common Stock |
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Net loss per share, basic and diluted: |
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Numerator |
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Allocation of losses |
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$ |
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$ |
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$ |
(3,437 |
) |
Denominator |
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Weighted-average shares outstanding |
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- |
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- |
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1,322,553 |
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Net loss per share, basic and diluted |
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$ |
- |
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|
$ |
- |
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|
$ |
(2.60 |
) |
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For the Six Months Ended June 30, 2026 |
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Series B
Preferred Stock |
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Series C
Preferred Stock |
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|
Common Stock |
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Net loss per share, basic and diluted: |
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Numerator |
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Allocation of losses |
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$ |
(12,893 |
) |
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$ |
(8,683 |
) |
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$ |
(37,381 |
) |
Denominator |
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Weighted-average shares outstanding |
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16,366 |
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|
11,022 |
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47,449,952 |
|
Net loss per share, basic and diluted |
|
$ |
(787.80 |
) |
|
$ |
(787.80 |
) |
|
$ |
(0.79 |
) |
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For the Six Months Ended June 30, 2025 |
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Series B
Preferred Stock |
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Series C
Preferred Stock |
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|
Common Stock |
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Net loss per share, basic and diluted: |
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Numerator |
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Allocation of losses |
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$ |
— |
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$ |
— |
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|
$ |
(5,970 |
) |
Denominator |
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Weighted-average shares outstanding |
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— |
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— |
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1,322,283 |
|
Net loss per share, basic and diluted |
|
$ |
— |
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|
$ |
— |
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|
$ |
(4.51 |
) |
The following outstanding potentially dilutive securities have been excluded from the calculation of diluted net loss per share, as their effect is anti-dilutive:
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For the Six Months Ended June 30, |
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|
2026 |
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|
2025 |
|
Stock options to purchase Common Stock |
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|
4,524,351 |
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|
241,131 |
|
Restricted stock units |
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|
956,787 |
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|
10,452 |
|
Outstanding Paramora warrants |
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|
628,302 |
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— |
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