Note 2 - Income (Loss) Per Share

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Earnings Per Share [Text Block]

2. Income (loss) per share

Basic income (loss) per share is computed by dividing net income (loss) by the weighted average number of common shares outstanding, restricted stock units ("RSUs"), and restricted common stock that have vested but not been delivered during the period. Diluted income (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock and is calculated using the treasury stock method for stock options, RSUs, restricted stock, pre-funded warrants, common stock warrants, direct offering, deferred common stock, and unvested shares (see Note 7, Equity, below). Stock equivalent shares are excluded from the calculation in loss periods, as their effects would be anti-dilutive. 

For the three and nine months ended September 30, 2025 and 2024, basic and diluted loss per share were as follows:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024
Numerator:
Net loss	$	(7,556	)	$	(7,944	)	$	(23,048	)	$	(25,847	)
Denominator:
Weighted average shares outstanding		27,797,444			16,164,301			24,207,259			14,495,341
Weighted average restricted shares vested not delivered		299,572			287,972			290,251			287,912
Total basic weighted average shares outstanding		28,097,016			16,452,273			24,497,510			14,783,253
Dilutive effect of assumed conversion of restricted stock units		—			—			—			—
Total diluted weighted average shares outstanding		28,097,016			16,452,273			24,497,510			14,783,253
Basic and diluted loss per share:
Basic	$	(0.27	)	$	(0.48	)	$	(0.94	)	$	(1.75	)
Diluted	$	(0.27	)	$	(0.48	)	$	(0.94	)	$	(1.75	)

Based on exercise prices compared to the average stock prices for the three and nine months ended September 30, 2025 and 2024, certain stock equivalents have been excluded from the diluted weighted average share calculations due to their anti-dilutive nature.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Restricted stock units		817,384		993,975		817,384		993,975
Stock options		331,667		298,331		331,667		298,331
Common stock warrants		7,701,383		—		7,701,383		—
Total anti-dilutive securities		8,850,434		1,292,306		8,850,434		1,292,306