15. Net Loss Per Share

The following outstanding potentially dilutive common stock equivalents were excluded from the computation of diluted net loss per share for the periods indicated because including them would have been antidilutive (in thousands):


	June 30,
	2026		2025
Common stock warrants		41,918		36,783
Legacy GCT Earnout Shares		20,000		20,000
Unvested restricted stock units		1,430		1,071
Sponsor Earnout Shares		571		571
Convertible promissory notes		500		500
Options issued and outstanding		331		348
Total		64,750		59,273

Vested and unreleased RSUs are included in the calculation of basic and diluted net loss per share, even though they are not physically settled in shares of the Company’s common stock.