Note 7 – Net Income (Loss) Per Share

Basic and diluted net income (loss) per common share was calculated as follows:

	*Three Months Ended September 30,*						*Nine Months Ended September 30,*
(in thousands, except for net income (loss) per share)	*2026*			*2025*			*2026*			*2025*
Numerator:
Net income (loss)	$	(6,196	)	$	(3,438	)	$	(15,403	)	$	(8,516	)

Denominator:
Weighted-average common shares outstanding, basic and diluted⁽¹⁾		8,561			7,124			8,547			7,037

Net income (loss) per common share, basic and diluted	$	(0.72	)	$	(0.48	)	$	(1.80	)	$	(1.21	)

Anti-dilutive potential common stock equivalents excluded from the calculation of net income (loss) per share:
Stock options to purchase common stock		721			601			721			601
Unvested restricted stock units		129			115			129			115

(1)

Pre-funded warrants outstanding during the three and nine months ended September 30, 2026 and 2025, are exercisable at a nominal price and are considered, in substance, equivalent to outstanding common stock. Accordingly, such pre-funded warrants have been included in the calculation of weighted-average shares of common stock outstanding for purposes of basic and diluted net income (loss) per share.