Net Loss Per Share

9 Months Ended

Sep. 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 nine months ended September 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		Nine Months Ended
	September 30,		September 30,
	2024	2023	2024	2023
Basic:
Weighted average common shares outstanding	54,843,841	54,235,695	54,719,330	54,038,239
Diluted:
Weighted average common shares outstanding - Basic	54,843,841	54,235,695	54,719,330	54,038,239
Common stock equivalents*	—	—	—	—
Denominator for diluted net loss per share	54,843,841	54,235,695	54,719,330	54,038,239

* 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				Nine Months Ended
	September 30,				September 30,
	2024		2023		2024		2023
Net loss - basic and diluted	$	(12,476)	$	(28,032)	$	(63,188)	$	(86,176)
Weighted-average common shares outstanding:
Basic and diluted		54,843,841		54,235,695		54,719,330		54,038,239
Net loss per share, basic and diluted:	$	(0.23)	$	(0.52)	$	(1.15)	$	(1.59)

As of September 30, 2024, 4,259,562 stock options and 967,924 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 September 30, 2023, 8,040,891 stock options and 775,711 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.