Basic net income (loss) per share is computed by dividing the net income (loss) attributable to Common Stock holders, adjusted for by the deemed earnings attributable to participating common warrant holders, by the weighted average number of shares of Common Stock outstanding during the period.

Diluted net income (loss) per share is computed by dividing the net income (loss) available to Common Stock holders by the weighted-average number of common shares outstanding and potentially dilutive common shares outstanding during the period. Potentially dilutive common shares include restricted stock units, stock options and warrants outstanding during the period, and are calculated using the treasury stock method. Potentially dilutive common shares are excluded from the computations of diluted income (loss) per share if their effect would be anti-dilutive. A net loss available to Common Stock holders causes all potentially dilutive securities to be anti-dilutive and are not included.

The following table sets forth the computation of basic and diluted earnings per share and a reconciliation of the

weighted average number of common and common equivalent shares outstanding:


	Three Months Ended June 30,
	2026			2025
	(in thousands, except shares and per share data)
Numerator (in thousands):
Net loss attributable to common stockholders - basic and diluted	$	(5,771	)	$	(3,649	)

Denominator (in thousands):
Weighted average shares of common stock - basic		20,671			16,992
Effect of dilutive common stock equivalents		—			—
Weighted average shares of common stock - diluted		20,671			16,992

Earnings per share:
Basic loss per share	$	(0.28	)	$	(0.21	)
Effect of dilutive common stock equivalents		—			—
Diluted loss per share	$	(0.28	)	$	(0.21	)

The following common equivalent shares outstanding at period-end have been excluded from the computation of earnings per share, as their inclusion would have been anti-dilutive:


	Three Months Ended June 30,
	2026		2025
Options to purchase common stock		—		250
Stock appreciation rights		846,151		761,244
Restricted stock units and awards		2,290,543		1,945,200
Warrants to purchase common stock		706,667		2,654,167
Convertible notes		6,500,000		—