Net Loss Per Share Attributable to Common Stockholders

6 Months Ended

Jun. 30, 2025

Net Loss Per Share Attributable to Common Stockholders

13. Net Loss Per Share Attributable to Common Stockholders

Basic and diluted net loss per share attributable to common stockholders for the three and six months ended June 30, 2025 and 2024 was calculated as follows (in thousands, except share and per share data):


	Three Months Ended June 30,						Six Months Ended June 30,
	2025			2024			2025			2024
Numerator:
Net loss attributable to common stockholders, basic and diluted	$	(11,350	)	$	(5,650	)	$	(21,546	)	$	(9,057	)
Denominator:
Weighted average common shares outstanding		18,702,418			1,362,481			11,419,020			1,362,481
Less: Weighted-average common shares subject to repurchase		(1,132	)		(36,775	)		(1,343	)		(43,352	)
Weighted-average shares outstanding, basic and diluted		18,701,286			1,325,706			11,417,677			1,319,129
Net loss per share attributable to common stockholders, basic and diluted	$	(0.61	)	$	(4.26	)	$	(1.89	)	$	(6.87	)

The potential shares of common stock were excluded from the computation of diluted net loss per share attributable to common stockholders as of June 30, 2025 and 2024 because including them would have had an anti-dilutive effect. The excluded shares were as follows:


	June 30,
	2025		2024
Redeemable convertible preferred stock, as converted		—		8,699,309
Outstanding options to purchase common stock		1,988,633		1,105,882
Unvested restricted stock awards		991		32,390
2024 Note1		—		1,644,393
Total		1,989,624		11,481,974

1 As of June 30, 2024, the conversion of the 2024 Note into common stock or redeemable convertible preferred stock was dependent on the price of shares that may be issued in connection with the 2024 Note Qualified Financing. The number of shares herein is calculated based on the conversion of the 2024 Note’s outstanding principal and accrued and unpaid interest as of June 30, 2024 into the Company’s preferred stock at the price of $6.20 per share.