Net Loss Per Share

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

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 common shares outstanding during the period and excludes any dilutive effects of stock-based awards and warrants. Diluted net loss per common share is computed giving effect to all potential dilutive common shares, including common stock issuable upon exercise of stock options, and unvested restricted common stock and stock units. As we had net losses for the years ended December 31, 2024, 2023 and 2022, all potential common shares were determined to be anti-dilutive.

The following table sets forth the computation of net loss per common share:

	Year Ended December 31,
(in thousands, except per share amounts)	2024		2023		2022
Numerator:
Net loss	$	(39,136)	$	(66,067)	$	(67,207)
Denominator:
Weighted average common shares outstanding - basic and diluted	235,233		219,331		158,690
Net loss per share of common stock - basic and diluted	$	(0.17)	$	(0.30)	$	(0.42)

The total numbers of securities that could potentially dilute net income per share in the future that were not considered in the diluted net loss per share calculations because the effect would have been anti-dilutive were as follows:

	Year Ended December 31,
(in thousands)	2024	2023	2022
Options to purchase common stock	27,800	20,877	13,522
Restricted stock units	7,883	3,086	2,694
ESPP shares issuable	230	249	166
Total	35,913	24,212	16,382

The number of potential common shares that would have been included in diluted income per share had it not been for the anti-dilutive effect caused by the net loss, computed by converting these securities using the treasury stock method during the years ended December 31, 2024, 2023 and 2022, was approximately 9.2 million, 6.3 million and 0.6 million, respectively.