Net Loss per Share

12 Months Ended

Dec. 31, 2024

Net Loss per Share

Net Loss per Share

4. Net Loss per Share

Basic net loss per share is calculated based on the weighted average number of common shares outstanding for the period. Diluted net loss per share is calculated based on the assumption that stock options and other dilutive securities outstanding, which have an exercise price less than the average market price of the Company’s common shares during the period, would have been exercised on the later of the beginning of the period or the date granted, and that the funds obtained from the exercise were used to purchase common shares at the average market price during the period. None of the Company’s stock options or other dilutive securities are considered to be dilutive in periods with net losses.

The effect of the Company’s dilutive securities is calculated using the treasury stock method and only those instruments that result in a reduction in net income per common share are included in the calculation. Diluted net loss per share excluded common stock equivalents because the effect of their inclusion would be anti-dilutive or would decrease the reported net loss per share. When a loss from continuing operations exists, all dilutive securities and potentially dilutive securities are anti-dilutive and therefore 1,744,646 shares are excluded from the computation of diluted earnings per share.

Basic and diluted net loss per share is calculated as follows (net loss in thousands):

	Year Ended December 31,
	2024		2023
Net loss	$	(78,640)	$	(66,215)
Basic weighted-average shares outstanding		231,674,716		238,687,621
Net loss per share - basic and diluted	$	(0.34)	$	(0.28)