Net Income (Loss) Per Common Share

9 Months Ended

Sep. 30, 2026

Net Loss Per Common Share

The following table summarizes the computation of basic and diluted net loss per common share.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Numerator:
Net loss	$	(4,587)	$	(6,679)	$	(13,682)	$	(21,466)
Adjustment for preferred stock cumulative dividends and deemed dividends (1)	(5,677)		(4,832)		(15,396)		(13,853)



Numerator for basic and diluted net loss per common share	$	(10,264)	$	(11,511)	$	(29,078)	$	(35,319)

Denominator:
Weighted average common shares outstanding	80,120		50,272		61,170		50,222
Adjustment for participating securities	(2,011)		(2,125)		(2,185)		(2,308)
Adjustment for warrants outstanding (2)	—		1,458		476		1,459





Shares used to calculate basic and diluted net loss per common share	78,109		49,605		59,461		49,373








Basic and diluted net loss per common share	$	(0.13)	$	(0.23)	$	(0.49)	$	(0.72)

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(1) Includes deemed dividend of $3.4 million as described in Note 9.

(2) Outstanding warrants that are exercisable at an exercise price of $0.01 per share are included in shares outstanding for calculation of basic earnings per share (see Note 16).

The following table presents securities that could be potentially dilutive in the future that were excluded from the calculation of diluted net loss per common share because they had an anti-dilutive effect.


	Three Months Ended September 30,		Nine Months Ended September 30,
	2026	2025	2026	2025
Stock options	59	81	65	128
Warrants	1,215	1,500	1,266	1,500
Performance share units	820	820	820	820
Total antidilutive securities	2,094	2,401	2,151	2,448

Stock options excluded from the calculations of diluted net loss per common share have a per share exercise price ranging from $7.93 to $24.55 for the three and nine months ended September 30, 2026. Warrants excluded from the calculation of diluted net loss per common share have a per share exercise price of $11.03 (see Note 16). Performance share units are potentially dilutive when the related performance criterion has been met.