| Net (Loss) Income Per Share |
Note 13. Net (Loss) Income Per Share
Basic and diluted net (loss) income per share is calculated as follows (in thousands, except share and per share amounts):
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Year Ended December 31, |
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2024 |
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2023 |
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Net (loss) income per share, basic: |
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Numerator: |
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Net (loss) income attributable to common stockholders |
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$ |
(17,434 |
) |
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$ |
17,915 |
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Less non-cumulative preferred Series C dividends accrued but not declared during the period |
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— |
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(3,600 |
) |
Less allocation of undistributed earnings to participating securities - preferred stock |
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— |
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(10,431 |
) |
(Loss) income available to common stockholders – basic and diluted |
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$ |
(17,434 |
) |
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$ |
3,884 |
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Denominator: |
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Weighted-average number of shares outstanding used in computing net (loss) income per share, basic |
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2,225,934 |
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1,770,167 |
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Effect of dilutive securities: |
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Stock options |
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— |
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23,813 |
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Denominator for diluted net (loss) income per share – adjusted weighted average shares |
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2,225,934 |
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1,793,980 |
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Net (loss) income per share, basic |
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$ |
(7.83 |
) |
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$ |
2.19 |
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Net (loss) income per share, diluted |
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$ |
(7.83 |
) |
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$ |
2.17 |
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The following potentially dilutive securities have been excluded from the calculation of diluted weighted-average shares of common stock outstanding, as they would be anti-dilutive:
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Year Ended December 31, |
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2024 |
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2023 |
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Convertible preferred stock (1) (2) |
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208,331 |
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15,360,787 |
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Stock options to purchase common stock |
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1,673,352 |
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346,523 |
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Prefunded warrants to purchase common stock |
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2,466,456 |
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— |
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(1)The convertible preferred stock as of December 31, 2024 is reflected on an as-converted basis.
(2)
The convertible preferred stock as of December 31, 2023 does not reflect the application of the 0.309469242 Exchange Ratio.
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