Net loss per common share is calculated in accordance with ASC 260, Earnings Per Share. Basic and diluted net loss per common share attributable to common stockholders is calculated for the periods presented as follows (in thousands):


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025


NUMERATOR
Net loss	$	(6,356)	$	(6,462)	$	(13,254)	$	(11,284)
Less: Net loss attributable to noncontrolling interest	—		(14)		—		(23)
Less: Deemed dividend on down round provision from Series A convertible preferred stock	(2,539)		—		(2,539)		—
Less: Series A Preferred Stock dividends - undeclared	(37)		(117)		(74)		(117)
Net loss attributable to Serina common stockholders	$	(8,932)	$	(6,565)	$	(15,867)	$	(11,378)

DENOMINATOR
Weighted-average shares of common stock outstanding used to calculate basic net loss per common share	16,385		10,004		14,232		9,883

Net loss per common share attributable to common stockholders, basic and diluted	$	(0.55)	$	(0.66)	$	(1.11)	$	(1.15)

For each of the three and six months ended June 30, 2026 and 2025, the Company had net losses. See the following table for all the potential dilutive instruments that were excluded from the calculation of diluted net loss per share (in thousands):


	Three months ended June 30,		Six months ended June 30,
	2026	2025	2026	2025
Stock options	4,418	3,295	4,418	3,295
Warrants	7,116	1,997	7,116	1,997
Series A convertible preferred stock	—	984	—	984
2025 Convertible Note	965	—	965	—
Total anti-dilutive securities	12,499	6,276	12,499	6,276