| Schedule of Basic and Diluted Earnings Per Share |
Diluted net loss per share is calculated using the if-converted method as of December 31, 2024, which assumes conversion of all non-voting common stock to voting common stock.
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Year ended December 31, 2025 |
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Voting common stock |
|
Basic and diluted net loss per share: |
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|
Net loss |
|
$ |
(167,856 |
) |
Weighted average number of shares outstanding |
|
|
79,903,224 |
|
Net loss per share, basic and diluted |
|
$ |
(2.10 |
) |
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Year ended December 31, 2024 |
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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 |
|
$ |
(114,728 |
) |
|
$ |
(1,136 |
) |
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Denominator |
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Weighted average number of shares used in basic per share computation |
|
|
49,038,726 |
|
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|
485,378 |
|
Net loss per share, basic |
|
$ |
(2.34 |
) |
|
$ |
(2.34 |
) |
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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 |
|
$ |
(114,728 |
) |
|
$ |
(1,136 |
) |
Reallocation of undistributed losses as a result of conversion of
non-voting to voting common shares |
|
|
(1,136 |
) |
|
|
— |
|
Allocation of undistributed losses |
|
$ |
(115,864 |
) |
|
$ |
(1,136 |
) |
|
|
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|
|
|
|
Denominator |
|
|
|
|
|
|
Weighted average number of shares used in basic per share computation |
|
|
49,038,726 |
|
|
|
485,378 |
|
Add: conversion of non-voting to voting common shares outstanding |
|
|
485,378 |
|
|
|
— |
|
Weighted average number of shares used in diluted per share computation |
|
|
49,524,104 |
|
|
|
485,378 |
|
Net loss per share, diluted |
|
$ |
(2.34 |
) |
|
$ |
(2.34 |
) |
|
| 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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Year Ended December 31, |
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2025 |
|
|
2024 |
|
Stock options to purchase common stock |
|
|
13,835,372 |
|
|
|
11,231,148 |
|
Warrants to purchase common stock |
|
|
53,090,190 |
|
|
|
— |
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Total |
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|
66,925,562 |
|
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|
11,231,148 |
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