| Net Loss Per Share |
17. Net income (loss) per share
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|
Three months ended September 30, |
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|
Nine months ended September 30, |
|
($ in thousands) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Net income (loss) for basic calculation |
|
$ |
6,702 |
|
|
$ |
(23,938 |
) |
|
$ |
12,177 |
|
|
$ |
(43,187 |
) |
Less: decrease in fair value of warrants |
|
|
(19,480 |
) |
|
|
— |
|
|
|
(59,335 |
) |
|
|
— |
|
Net loss for diluted calculation |
|
$ |
(12,778 |
) |
|
$ |
(23,938 |
) |
|
$ |
(47,158 |
) |
|
$ |
(43,187 |
) |
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Weighted average shares outstanding for calculating basic income (loss) per share |
|
|
17,084,491 |
|
|
|
14,899,638 |
|
|
|
16,239,464 |
|
|
|
13,626,800 |
|
Add: Assumed exercise of warrants |
|
|
6,388,590 |
|
|
|
— |
|
|
|
6,680,033 |
|
|
|
— |
|
Weighted average shares outstanding for calculating diluted loss per share |
|
|
23,473,081 |
|
|
|
14,899,638 |
|
|
|
22,919,497 |
|
|
|
13,626,800 |
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|
Basic income (loss) per share |
|
$ |
0.39 |
|
|
$ |
(1.61 |
) |
|
$ |
0.75 |
|
|
$ |
(3.17 |
) |
Diluted loss per share |
|
$ |
(0.54 |
) |
|
$ |
(1.61 |
) |
|
$ |
(2.06 |
) |
|
$ |
(3.17 |
) |
For purposes of computing diluted loss per share, weighted average common shares outstanding do not include potentially dilutive securities that are anti-dilutive, as shown below.
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Three months ended September 30, |
|
|
Nine months ended September 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Anti-dilutive securities excluded from calculating dilutive loss per share: |
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Shares of common stock issuable under stock option plans outstanding |
|
|
180,664 |
|
|
|
206,405 |
|
|
|
201,905 |
|
|
|
206,405 |
|
Shares of common stock issuable upon vesting of RSUs |
|
|
2,877,101 |
|
|
|
1,997,547 |
|
|
|
3,127,760 |
|
|
|
1,997,547 |
|
Shares of common stock issuable upon exercise of outstanding warrants |
|
|
— |
|
|
|
6,836,237 |
|
|
|
— |
|
|
|
6,836,237 |
|
Potential common shares excluded from diluted net loss per share calculation |
|
|
3,057,765 |
|
|
|
9,040,189 |
|
|
|
3,329,665 |
|
|
|
9,040,189 |
|
|