| Summary of Basic and Diluted Net Loss Per Share |
The following table provides a reconciliation of the numerators and denominators used to calculate basic and diluted net income (loss) per common share as disclosed on our unaudited condensed consolidated statement of operations for the three and six months ended June 30, 2026 and 2025, respectively:
| | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Basic net income (loss) per share: | | | | | | | | | Numerator: | | | | | | | | | Net income (loss) | $ | (15,278) | | | $ | 1,611 | | | $ | (24,267) | | | $ | 20 | | Preferred stock dividends | 10,925 | | | (554) | | | 10,376 | | | (1,103) | | Income allocated to participating securities | — | | | (945) | | | — | | | — | | Net income (loss) attributable to common stockholders, basic | $ | (4,353) | | | $ | 112 | | | $ | (13,891) | | | $ | (1,083) | | | Denominator: | | | | | | | | Weighted-average number of shares outstanding used to compute net income (loss) per share attributable to common stockholders, basic | 61,924,756 | | 7,392,011 | | 35,290,038 | | 7,312,496 | | Net income (loss) per share attributable to common stockholders, basic | $ | (0.07) | | | $ | 0.02 | | | $ | (0.39) | | | $ | (0.15) | | | | | | | | | | | Diluted net income (loss) per share: | | | | | | | | | Numerator: | | | | | | | | | Net income (loss) attributable to common stockholders, basic | $ | (4,353) | | | $ | 112 | | | $ | (13,891) | | | $ | (1,083) | | | Preferred stock dividends | — | | | — | | | — | | | — | | Income allocated to participating securities | — | | | 61 | | | — | | | — | | Net income (loss) attributable to common stockholders, diluted | $ | (4,353) | | | $ | 173 | | | $ | (13,891) | | | $ | (1,083) | | | Denominator: | | | | | | | | Weighted-average number of shares outstanding used to compute net income (loss) per share attributable to common stockholders, basic | 61,924,756 | | 7,392,011 | | 35,290,038 | | 7,312,496 | | Weighted-average effect of potentially dilutive securities: | | | | | | | | | Stock Options | — | | | 4,404,802 | | — | | | — | | RSUs | — | | | — | | — | | | — | | Warrants for Common Stock | — | | | 428,797 | | — | | | — | | Convertible Preferred Stock | — | | | — | | — | | | — | Weighted-average number of shares outstanding used to compute net income (loss) per share attributable to common stockholders, diluted | 61,924,756 | | 12,225,610 | | 35,290,038 | | 7,312,496 | | Net income (loss) per share attributable to common stockholders, diluted | $ | (0.07) | | | $ | 0.01 | | | $ | (0.39) | | | $ | (0.15) | |
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
Dilutive shares which could exist pursuant to the exercise of outstanding stock instruments, and which were not included in the calculation because their effect would have been anti-dilutive are as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | Three months ended June 30, | | Six months ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Stock Options | 14,336,269 | | | 1,718,363 | | | 14,336,269 | | | 12,419,812 | | | RSUs | 1,481,907 | | | — | | | 1,481,907 | | | — | | | Warrants for Common Stock | 327,858 | | | 952,360 | | | 327,858 | | | 1,538,864 | | | Convertible Preferred Stock | — | | | — | | | — | | | 62,425,315 | | | Total | 16,146,034 | | | 2,670,723 | | | 16,146,034 | | | 76,383,991 | |
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