| Schedule of Basic and Diluted Net Income (Loss) Per Share |
The following table sets forth the computation
of basic and diluted net income (loss) per share of common and preferred stock (in thousands, except share and per share data):
| |
|
Three Months Ended
June 30, |
|
|
Six Months Ended
June 30, |
|
| |
|
2024 |
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
| Basic net income (loss) per share |
|
|
|
|
|
|
|
|
|
|
|
|
| Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) |
|
$ |
9,855 |
|
|
$ |
(6,447 |
) |
|
$ |
(11,108 |
) |
|
$ |
(5,877 |
) |
| Net loss attributable to participating securities |
|
|
(5,925 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Dividend to Series B-1 preferred stockholders |
|
|
(887 |
) |
|
|
- |
|
|
|
(1,095 |
) |
|
|
- |
|
| Net income (loss) attributable to common shares, basic |
|
|
3,043 |
|
|
|
(6,447 |
) |
|
|
(12,203 |
) |
|
|
(5,877 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted-average shares outstanding used in computing net income (loss) per share attributable to common stockholders, basic |
|
|
3,791,481 |
|
|
|
12,302,059 |
|
|
|
3,639,800 |
|
|
|
11,993,663 |
|
| Net income (loss) per share attributable to common stockholders, basic |
|
$ |
0.80 |
|
|
$ |
(0.52 |
) |
|
$ |
(3.35 |
) |
|
$ |
(0.49 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diluted net income (loss) per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Numerator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) attributable to common shares, basic |
|
$ |
3,043 |
|
|
$ |
(6,447 |
) |
|
$ |
(12,203 |
) |
|
$ |
(5,877 |
) |
| Change in fair value of preferred stock warrant liability |
|
|
(16,810 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Net (loss) attributable to common shares, diluted |
|
|
(13,767 |
) |
|
|
(6,447 |
) |
|
|
(12,203 |
) |
|
|
(5,877 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Denominator: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted-average shares outstanding used in computing net loss per share attributable to common stockholders, basic |
|
|
3,791,481 |
|
|
|
12,302,059 |
|
|
|
3,639,800 |
|
|
|
11,993,663 |
|
| Weighted-average effect of diluted securities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Tranche warrants to purchase convertible preferred stock |
|
|
5,613,804 |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Weighted-average shares outstanding used in computing net loss per share attributable to common stockholders, diluted |
|
|
9,405,285 |
|
|
|
12,302,059 |
|
|
|
3,639,800 |
|
|
|
11,993,663 |
|
| Net loss per share attributable to common stockholders, diluted |
|
$ |
(1.50 |
) |
|
$ |
(0.52 |
) |
|
$ |
(3.35 |
) |
|
$ |
(0.49 |
) |
|
| Schedule of Outstanding Shares of Potentially Dilutive Securities |
The following outstanding shares of potentially
dilutive securities were excluded from the computation of diluted net loss per share for the periods presented because including them
would have been antidilutive:
| |
|
Three Months Ended
June 30, |
|
|
Six Months Ended
June 30, |
|
| |
|
2024 |
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Options to purchase common stock |
|
|
1,308,843 |
|
|
|
1,420,714 |
|
|
|
1,308,843 |
|
|
|
1,420,714 |
|
| Warrants to purchase common stock |
|
|
478,419 |
|
|
|
478,419 |
|
|
|
478,419 |
|
|
|
478,419 |
|
| Restricted stock units |
|
|
1,000 |
|
|
|
- |
|
|
|
1,000 |
|
|
|
- |
|
| Common stock issuable upon conversion of Series B-1 convertible preferred stock |
|
|
5,000,000 |
|
|
|
- |
|
|
|
5,000,000 |
|
|
|
- |
|
| Common stock issuable upon conversion of Series A-2 Prime convertible preferred stock |
|
|
3,484,300 |
|
|
|
1,115,145 |
|
|
|
3,484,300 |
|
|
|
1,115,145 |
|
| Warrants to purchase convertible preferred stock |
|
|
- |
|
|
|
15,818,817 |
|
|
|
16,095,817 |
|
|
|
15,818,817 |
|
| Total |
|
|
10,272,562 |
|
|
|
18,833,095 |
|
|
|
26,368,379 |
|
|
|
18,833,095 |
|
|