Computation of Basic and Diluted Net Loss Per Share

6 Months Ended

Jul. 01, 2023

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Loss Per Share

11. Computation of Basic and Diluted Net Loss Per Share

Basic and diluted net loss per share is based upon the weighted average number of common shares outstanding during the period. Common stock equivalents consist of incremental common shares issuable upon the exercise of stock options, and the release (vesting) of RSUs and awards and are calculated under the treasury stock method. Common stock equivalent shares from unexercised stock options, and unvested RSUs and awards are excluded from the computation for periods in which we incur a net loss or if the exercise price of such options is greater than the average market price of our common stock for the period as their effect would be anti-dilutive.

For the three months ended July 1, 2023 and July 2, 2022, potential shares from stock options and RSUs totaling 2,260,886 and 1,698,584 shares, respectively, were excluded from the computation of diluted weighted average shares outstanding. For the six months ended July 1, 2023 and July 2, 2022, potential shares from stock options and RSUs totaling 2,281,161 and 1,700,686 shares, respectively, were excluded from the computation of diluted weighted average shares outstanding.

A reconciliation of the numerator and denominator of basic and diluted net loss per common share is provided as follows (in thousands except per share data):

	Three Months Ended						Six Months Ended
	July 1, 2023			July 2, 2022			July 1, 2023			July 2, 2022
Numerator:
Net loss	$	(2,766	)	$	(2,241	)	$	(4,856	)	$	(4,632	)
Denominator:
Weighted average shares of common stock (basic)		16,036			15,894			16,018			15,888
Weighted average shares of common stock (diluted)		16,036			15,894			16,018			15,888
Per share data:
Basic net loss per share	$	(0.17	)	$	(0.14	)	$	(0.30	)	$	(0.29	)
Diluted net loss per share	$	(0.17	)	$	(0.14	)	$	(0.30	)	$	(0.29	)