Note 14 - Net Loss per Share

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Earnings Per Share [Text Block]

14. Net Loss per Share

The Company applies the two-class method pursuant to the issuance of our Series B Preferred Stock. Accordingly, the Company’s basic net loss per share attributable to common stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Net loss attributable to common stockholders is equal to the Company’s net loss.

The calculation of basic earnings per share requires an allocation of earnings to all securities that participate in dividends with shares of common stock to the extent that each security may share in the Company’s earnings. Basic earnings per share are calculated by dividing undistributed earnings allocated to common stock by the weighted average number of shares of common stock.

Diluted earnings per share are calculated using the more dilutive of the two-class or if-converted methods. The two-class method uses net income available to common stockholders and assumes conversion of all potential shares other than the participating securities. The if-converted method uses net income and assumes conversion of all potential shares including the participating securities. For the periods where a net loss attributable to common stockholders is present, dilutive securities have been excluded from the calculation of diluted net loss per share attributable to common stockholders as including them would have been anti-dilutive.

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2025			2024			2025			2024
(In thousands, except per share amounts)
Net loss	$	(2,596	)	$	(1,431	)	$	(6,029	)	$	(4,178	)
Less dividends on Series B Preferred Stock		(36	)		—			(37	)		—
Deemed dividends on warrants		(10	)		—			(10	)		—
Net loss available to common stockholders		(2,642	)		(1,431	)		(6,076	)		(4,178	)
Weighted average number of shares of common stock outstanding		1,320,778			364,184			928,971			229,291
Net loss per share - basic	$	(2.00	)	$	(3.93	)	$	(6.54	)	$	(18.22	)

The following outstanding potentially dilutive common stock equivalents have been excluded from the calculation of diluted net loss per share for the periods presented due to their antidilutive effect:

	Nine Months Ended
	September 30,
	2025		2024
Warrants to purchase common stock		1,055,809		707,234
Common stock options issued and outstanding		355,368		3,904
Restricted stock units issued and outstanding		79,415		—
Series A Preferred Stock		237,200		—
Series B Preferred Stock		2,767,387		—
Total		4,495,179		711,138