| Schedule of Computation of Basic and Diluted Income (Loss) Per Share |
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Three months ended September 30, |
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Nine months ended September 30, |
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($ in thousands) |
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2026 |
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2025 |
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2026 |
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2025 |
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Net income (loss) for basic calculation |
|
$ |
6,702 |
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|
$ |
(23,938 |
) |
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$ |
12,177 |
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$ |
(43,187 |
) |
Less: decrease in fair value of warrants |
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(19,480 |
) |
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— |
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(59,335 |
) |
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— |
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Net loss for diluted calculation |
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$ |
(12,778 |
) |
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$ |
(23,938 |
) |
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$ |
(47,158 |
) |
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$ |
(43,187 |
) |
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Weighted average shares outstanding for calculating basic income (loss) per share |
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17,084,491 |
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14,899,638 |
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16,239,464 |
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13,626,800 |
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Add: Assumed exercise of warrants |
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6,388,590 |
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— |
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6,680,033 |
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— |
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Weighted average shares outstanding for calculating diluted loss per share |
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23,473,081 |
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14,899,638 |
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22,919,497 |
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13,626,800 |
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Basic income (loss) per share |
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$ |
0.39 |
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$ |
(1.61 |
) |
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$ |
0.75 |
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$ |
(3.17 |
) |
Diluted loss per share |
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$ |
(0.54 |
) |
|
$ |
(1.61 |
) |
|
$ |
(2.06 |
) |
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$ |
(3.17 |
) |
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| Schedule of Antidilutive Securities Excluded from Computation of Diluted Net Income Per Share |
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, |
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Nine months ended September 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Anti-dilutive securities excluded from calculating dilutive loss per share: |
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Shares of common stock issuable under stock option plans outstanding |
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180,664 |
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206,405 |
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201,905 |
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206,405 |
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Shares of common stock issuable upon vesting of RSUs |
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2,877,101 |
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1,997,547 |
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3,127,760 |
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1,997,547 |
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Shares of common stock issuable upon exercise of outstanding warrants |
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— |
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6,836,237 |
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— |
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6,836,237 |
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Potential common shares excluded from diluted net loss per share calculation |
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3,057,765 |
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9,040,189 |
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3,329,665 |
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9,040,189 |
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