Note 3 - Net Loss Per Share

3 Months Ended

Mar. 31, 2023

Notes to Financial Statements

Earnings Per Share [Text Block]

3. NET LOSS PER SHARE

Net Loss Per Share

Basic net loss per share is calculated by dividing net loss by the weighted-average number of shares of common stock outstanding during the period, without consideration for common stock equivalents. Diluted net loss per share is computed by dividing net loss by the weighted-average number of common stock equivalents outstanding for the period determined using the treasury-stock method. For purposes of this calculation, common stock warrants and stock options are considered to be common stock equivalents and are only included in the calculation of diluted net loss per share when their effect is dilutive.

The following table sets forth the computation of basic and diluted net loss and the weighted average number of shares used in computing basic and diluted net loss per share (in thousands, except per share data):

	Three Months Ended March 31,
	2023			2022
Numerator:
Net loss	$	(9,623	)	$	(8,636	)
Net loss allocated to stockholders of the Company	$	(9,657	)	$	(8,619	)
Denominator:
Weighted-average shares of common stock outstanding used in computing net loss per share, basic		5,218			4,265
Weighted-average shares of common stock outstanding used in computing net loss per share, diluted		5,218			4,265
Net loss per share:
Basic	$	(1.85	)	$	(2.02	)
Diluted	$	(1.85	)	$	(2.02	)

Due to the net loss, all the outstanding shares of common stock equivalents were excluded from the calculation of diluted net loss per share attributable to common stockholders for the quarters ended March 31, 2023 and 2022 because including them would have been antidilutive: 

	March 31, 2023		March 31, 2022
Options to purchase common stock and restricted stock units ("RSUs")		1,012,456		525,247
Preferred stock		2,123,333		252,717
Shares reserved for convertible notes		547,592		547,592
Warrants for common stock		1,061,924		1,061,924
Total potential dilutive shares		4,745,305		2,387,480