Loss per share

9 Months Ended

Sep. 30, 2026

The table below summarizes the Company’s basic and diluted loss per share calculations (in thousands, except share and per share amounts):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Net loss	$	(26,145)	$	(9,376)	$	(95,182)	$	(32,872)

Weighted average shares outstanding
Basic and diluted	93,174,915		42,453,570		91,485,620		31,726,271


Net loss per common share, basic and diluted	$	(0.28)	$	(0.22)	$	(1.04)	$	(1.04)

Basic and diluted net loss per share is computed by dividing the net loss for the period by the weighted average number of shares of common stock outstanding during the period.

Due to the Company’s net loss for the three and nine months ended September 30, 2026 and 2025, there was no dilutive effect of common stock equivalents because the effects of such would have been anti-dilutive. The following table summarizes the shares excluded from the weighted average number of shares of common stock outstanding, as the impact would be anti-dilutive (in thousands):


	September 30,
	2026	2025
Shares upon exercise of warrants	7,840	19,303
Restricted stock units - Unvested	1,766	739
Restricted stock units - Vested with deferred conversion	75	96
Total	9,681	20,138