Annual report [Section 13 and 15(d), not S-K Item 405]

Net (Loss) Income Per Share (Tables)

v3.25.1
Net (Loss) Income Per Share (Tables)
 12 Months Ended
Dec. 31, 2024
Net loss per share  
Schedule of Basic and Diluted 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):

 

 

Year Ended December 31,

 

 

 

2024

 

 

2023

 

Net (loss) income per share, basic:

 

 

 

 

 

 

Numerator:

 

 

 

 

 

 

Net (loss) income attributable to common stockholders

 

$

(17,434

)

 

$

17,915

 

Less non-cumulative preferred Series C dividends accrued but not declared during the period

 

 

—

 

 

 

(3,600

)

Less allocation of undistributed earnings to participating securities - preferred stock

 

 

—

 

 

 

(10,431

)

(Loss) income available to common stockholders – basic and diluted

 

$

(17,434

)

 

$

3,884

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

Weighted-average number of shares outstanding used in computing net (loss) income per share, basic

 

 

2,225,934

 

 

 

1,770,167

 

Effect of dilutive securities:

 

 

 

 

 

 

Stock options

 

 

—

 

 

 

23,813

 

Denominator for diluted net (loss) income per share – adjusted weighted average shares

 

 

2,225,934

 

 

 

1,793,980

 

 

 

 

 

 

 

 

Net (loss) income per share, basic

 

$

(7.83

)

 

$

2.19

 

Net (loss) income per share, diluted

 

$

(7.83

)

 

$

2.17

 
Schedule of Potentially Dilutive Securities Excluded from Calculation of Weighted-Average Shares of Common Stock Outstanding

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:

 

 

Year Ended December 31,

 

 

2024

 

 

2023

 

Convertible preferred stock (1) (2)

 

208,331

 

 

 

15,360,787

 

Stock options to purchase common stock

 

1,673,352

 

 

 

346,523

 

Prefunded warrants to purchase common stock

 

2,466,456

 

 

 

—

 

_______________

(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.