Quarterly report [Sections 13 or 15(d)]

Loss per Share

v3.25.3
Loss per Share
9 Months Ended
Sep. 30, 2025
Earnings Per Share [Abstract]  
Loss per Share

6. Loss per share

Loss per share, or EPS, is computed in accordance with ASC 260—Earnings per Share and is calculated using the weighted-average number of shares of common stock outstanding during each period. Diluted EPS assumes the conversion, exercise or issuance of all potential common stock equivalents (which can include dilution of outstanding stock options and restricted stock units) unless the effect is to reduce a loss or increase the income per share. For purposes of this calculation, common stock subject to repurchase by the Company, options, and other dilutive awards are considered to be common stock equivalents and are only included in the calculation of diluted loss per share when their effect is dilutive.

Basic loss per share is calculated using the Company's weighted-average outstanding shares of common stock. Diluted loss per share is calculated using the Company's weighted-average outstanding shares of common stock including the dilutive effect of stock awards as determined under the treasury stock method.

The computation of EPS is as follows:

 

 

Three months ended
September 30,

 

 

Nine months ended
September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Numerator—basic and diluted:

 

 

 

 

 

 

 

 

 

 

 

 

Net loss

 

$

(5,294

)

 

$

(5,963

)

 

$

(15,620

)

 

$

(26,131

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock - basic common stock (1)

 

 

27,075,637

 

 

 

23,751,168

 

 

 

26,407,849

 

 

 

23,589,836

 

Weighted average shares of common stock - diluted common stock

 

 

27,075,637

 

 

 

23,751,168

 

 

 

26,407,849

 

 

 

23,589,836

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net loss per share - basic common stock

 

$

(0.20

)

 

$

(0.25

)

 

$

(0.59

)

 

$

(1.11

)

Net loss per share - diluted common stock (2)

 

$

(0.20

)

 

$

(0.25

)

 

$

(0.59

)

 

$

(1.11

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Denominator calculation from basic to diluted:

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock - basic common stock (1)

 

 

27,075,637

 

 

 

23,751,168

 

 

 

26,407,849

 

 

 

23,589,836

 

Stock options and other dilutive awards

 

 

532,039

 

 

 

764,761

 

 

 

530,947

 

 

 

620,943

 

Weighted average shares of common stock - diluted common stock

 

 

27,607,676

 

 

 

24,515,929

 

 

 

26,938,796

 

 

 

24,210,779

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shares excluded from diluted weighted average shares:

 

 

 

 

 

 

 

 

 

 

 

 

Restricted stock units

 

 

571,659

 

 

 

252,576

 

 

 

554,921

 

 

 

337,866

 

 

(1) Unvested restricted stock units are not included as shares outstanding in the calculation of basic earnings per share. Vested restricted stock units are included in basic earnings per share if all vesting and performance criteria have been met. Performance-based restricted stock units are included in the number of shares used to calculate diluted earnings per share as long as all applicable performance criteria are met, and their effect is dilutive.

(2) Due to net losses for the three and nine months ended September 30, 2025 and September 30, 2024, diluted loss per share is the same as basic loss per share.