Three Months Ended September 30,

Nine Months Ended September 30,

2026

2025

2026

2025

Basic Earnings Per Share:

Numerator:

Net (loss) income

$

(16,286

)

$

8,204

$

(31,618

)

$

21,031

(Loss) income attributable to common stockholders - basic

$

(16,286

)

$

8,204

$

(31,618

)

$

21,031

Denominator:

Weighted-average shares outstanding - basic

9,982,031

8,758,692

9,764,763

8,735,418

Net (loss) income per share attributable to common stockholders - basic

$

(1.63

)

$

0.94

$

(3.24

)

$

2.41

Diluted Earnings Per Share:

Numerator:

Net (loss) income

$

(16,286

)

$

8,204

$

(31,618

)

$

21,031

(Loss) income attributable to common stockholders - diluted

$

(16,286

)

$

8,204

$

(31,618

)

$

21,031

Denominator:

Weighted-average shares outstanding - basic

9,982,031

8,758,692

9,764,763

8,735,418

Dilutive impact from:

Stock options to purchase common stock

—

2,139

—

—

Unvested restricted stock units

—

8,990

—

9,377

Shares issuable under employee stock purchase plan

—

1,698

—

2

Weighted-average shares outstanding - diluted

9,982,031

8,771,519

9,764,763

8,744,797

Net (loss) income per share applicable to common stockholders - diluted

$

(1.63

)

$

0.94

$

(3.24

)

$

2.40

Anti-dilutive potential common stock equivalents excluded from the calculation of net (loss) income per share:

Stock options to purchase common stock

1,710,320

1,188,732

1,710,320

1,188,732

Unvested restricted stock units

10,706

100,824

10,706

100,824

Shares issuable under employee stock purchase plan

1,851

1,256

623

423

Warrants to purchase common stock

32,379

32,379

32,379

32,379