| Schedule of Basic and Diluted Earnings Per Share |
Diluted net loss per share is calculated using the if-converted method as of June 30, 2024, which assumes conversion of all non-voting common stock to voting common stock.
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Three months ended |
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Six months ended |
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June 30, 2025 |
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June 30, 2025 |
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Voting common stock |
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Voting common stock |
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Basic and diluted net loss per share: |
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Net loss |
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$ |
(45,128 |
) |
|
$ |
(81,071 |
) |
Weighted average number of shares outstanding |
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61,876,586 |
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56,340,599 |
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Net loss per share, basic and diluted |
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$ |
(0.73 |
) |
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$ |
(1.44 |
) |
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Three months ended |
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Six months ended |
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June 30, 2024 |
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June 30, 2024 |
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Voting common stock |
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Non-voting common stock |
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Voting common stock |
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Non-voting common stock |
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Basic net loss per share: |
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Numerator |
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Allocation of undistributed losses |
|
$ |
(27,318 |
) |
|
$ |
(284 |
) |
|
$ |
(51,608 |
) |
|
$ |
(1,041 |
) |
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Denominator |
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Weighted average number of shares used in basic per share computation |
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48,937,923 |
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507,884 |
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48,398,265 |
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|
976,089 |
|
Net loss per share, basic |
|
$ |
(0.56 |
) |
|
$ |
(0.56 |
) |
|
$ |
(1.07 |
) |
|
$ |
(1.07 |
) |
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Diluted net loss per share: |
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Numerator |
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Allocation of undistributed losses for basic computation |
|
$ |
(27,318 |
) |
|
$ |
(284 |
) |
|
$ |
(51,608 |
) |
|
$ |
(1,041 |
) |
Reallocation of undistributed losses as a result of conversion of
non-voting to voting common shares |
|
|
(284 |
) |
|
|
— |
|
|
|
(1,041 |
) |
|
|
— |
|
Allocation of undistributed losses |
|
$ |
(27,602 |
) |
|
$ |
(284 |
) |
|
$ |
(52,649 |
) |
|
$ |
(1,041 |
) |
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Denominator |
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Weighted average number of shares used in basic per share computation |
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|
48,937,923 |
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|
507,884 |
|
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|
48,398,265 |
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|
976,089 |
|
Add: conversion of non-voting to voting common shares outstanding |
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|
507,884 |
|
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— |
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|
976,089 |
|
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|
— |
|
Weighted average number of shares used in diluted per share computation |
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49,445,807 |
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|
507,884 |
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49,374,354 |
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|
976,089 |
|
Net loss per share, diluted |
|
$ |
(0.56 |
) |
|
$ |
(0.56 |
) |
|
$ |
(1.07 |
) |
|
$ |
(1.07 |
) |
|
| Schedule of Antidilutive Shares Excluded from Calculation of Diluted Net Loss Per Share |
The following outstanding potentially dilutive shares have been excluded from the calculation of diluted net loss per share, as their effect is anti-dilutive:
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As of June 30, |
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2025 |
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2024 |
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Stock options to purchase common stock |
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14,239,873 |
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10,253,666 |
|
Warrants to purchase common stock |
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53,090,190 |
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— |
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Total |
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67,330,063 |
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10,253,666 |
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