| Schedule of Earnings Per Share, Basic and Diluted |
Basic loss per share (“EPS”) is computed by dividing net loss available to common stockholders by the weighted‑average number of shares of common stock outstanding. Diluted EPS is computed after adjusting the numerator and denominator of the basic EPS computation for the effects of all potentially dilutive shares of common stock. The dilutive effect of the Private Warrants is computed using the “treasury stock” method. Gains associated with the changes in the fair value of the Private Warrants are excluded from the numerator in computing diluted earnings per share because inclusion of such gains in the computation would be anti‑dilutive (in thousands, except share and per share data): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Basic EPS: | | | | | | | | | Numerator: | | | | | | | | | Net loss | $ | (11,341) | | | $ | (10,569) | | | $ | (19,916) | | | $ | (23,439) | | | | | | | | | | | Denominator: | | | | | | | | | Weighted average number of shares of common stock outstanding | 18,594,006 | | | 18,423,699 | | | 18,571,685 | | | 18,486,699 | | | | | | | | | | | Diluted EPS: | | | | | | | | | Numerator: | | | | | | | | | Net loss | $ | (11,341) | | | $ | (10,569) | | | $ | (19,916) | | | $ | (23,439) | | | Adjust for: Change in fair value of Private Warrant liability | (4,738) | | | — | | | (4,738) | | | — | | | Adjusted net loss | $ | (16,079) | | | $ | (10,569) | | | $ | (24,654) | | | $ | (23,439) | | | | | | | | | | | Denominator: | | | | | | | | | Weighted average number of shares of common stock outstanding | 18,594,006 | | 18,423,699 | | 18,571,685 | | 18,486,699 | | Dilutive effect of warrants - treasury stock method | 340,273 | | | — | | | 171,076 | | | — | | | Weighted average diluted shares of common stock outstanding | 18,934,279 | | | 18,423,699 | | | 18,742,761 | | | 18,486,699 | | | | | | | | | | | Basic loss per share: | $ | (0.61) | | | $ | (0.57) | | | $ | (1.07) | | | $ | (1.27) | | | | | | | | | | | Diluted loss per share: | $ | (0.85) | | | $ | (0.57) | | | $ | (1.32) | | | $ | (1.27) | |
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The following common stock equivalents were excluded from the calculation of diluted loss per share attributable to common stockholders because their inclusion would have been anti-dilutive: | | | | | | | | | | | | | As of June 30, | | 2026 | | 2025 | | Series A-1 redeemable convertible preferred stock | — | | | 4,528,900 | | Series A-2 redeemable convertible preferred stock | — | | | 8,665,524 | | Series B-1 redeemable convertible preferred stock | — | | | 9,972,682 | | Series C-1 redeemable convertible preferred stock | — | | | 13,098,851 | | Series C-2 redeemable convertible preferred stock | — | | | 9,221,245 | | Series D redeemable convertible preferred stock | — | | | 21,827,755 | | Series B-1 and Series D redeemable convertible preferred stock warrants | — | | | 1,084,228 | | | Public Warrants | 13,800,000 | | | — | | | Options to purchase Series A Common Stock | 19,589,342 | | | 18,180,825 | | | Restricted stock units | 5,116,217 | | | 5,190,513 | |
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