Net Loss per Share

6 Months Ended

Jun. 30, 2024

Net Loss Per Share

Net Loss Per Share

14. Net Loss Per Share

The Company computes basic net loss per share by dividing net loss by the weighted-average number of shares of common stock outstanding. Diluted net loss per share includes the potential dilutive effect of common stock equivalents as if such securities were exercised during the period, when the effect is dilutive. Common stock equivalents may include outstanding stock options or restricted stock units, which are included using the treasury stock method when dilutive. For each of the three and six months ended June 30, 2024 and 2023, the Company excluded the effects of potentially dilutive shares that were outstanding during those respective periods from the denominator as their inclusion would be anti-dilutive due to the Company’s net losses during those periods.

The denominators used in the net loss per share computations are as follows:

	Three Months Ended		Six Months Ended
	June 30,		June 30,
	2024	2023	2024	2023
Basic:
Weighted average common shares outstanding	54,724,692	54,002,988	54,656,391	53,937,875
Diluted:
Weighted average common shares outstanding - Basic	54,724,692	54,002,988	54,656,391	53,937,875
Common stock equivalents*	—	—	—	—
Denominator for diluted net loss per share	54,724,692	54,002,988	54,656,391	53,937,875

* No amounts were considered as their effects would be anti-dilutive.

Basic and diluted net loss per share are computed as follows:

	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
Net loss - basic and diluted	$	(20,016)	$	(31,479)	$	(50,712)	$	(58,144)
Weighted-average common shares outstanding:
Basic and diluted		54,724,692		54,002,988		54,656,391		53,937,875
Net loss per share, basic and diluted:	$	(0.37)	$	(0.58)	$	(0.93)	$	(1.08)

As of June 30, 2024, 6,067,881 stock options and 976,799 restricted stock units were outstanding, which could potentially dilute basic earnings per share in the future, but were not included in the computation of diluted net loss per share because to do so would have been anti-dilutive as a result of the net loss for the period.

As of June 30, 2023, 8,134,597 stock options and 791,853 restricted stock units were outstanding, which could potentially dilute basic earnings per share in the future, but were not included in the computation of diluted net loss per share because to do so would have been anti-dilutive as a result of the net loss for the period.