XML 32 R24.htm IDEA: XBRL DOCUMENT v3.25.1
Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2025
Accounting Policies [Abstract]  
Summary of anti-dilutive securities excluded from calculation of earnings per share

The following table sets forth the outstanding potentially dilutive securities that have been excluded in the calculation of diluted net loss per share because their inclusion would be anti-dilutive for the three months ended March 31, 2025 and 2024:

 

 

AS OF
MARCH 31, 2025

 

 

AS OF
MARCH 31, 2024

 

Convertible preferred stock

 

 

 

 

 

6,160,385

 

Unvested restricted stock units

 

 

1,468,948

 

 

 

22,514

 

Options to purchase common stock

 

 

2,264,064

 

 

 

1,497,426

 

SAFEs (1)

 

 

 

 

 

 

Total

 

 

3,733,012

 

 

 

7,680,325

 

 

(1) The contingently convertible SAFEs were not included for purposes of calculating the number of diluted shares outstanding as of March 31, 2024, as the number of dilutive shares was based on a conversion ratio associated with the pricing of a future financing or liquidation event. Therefore, the contingently convertible SAFEs’ conversion ratio, and the resulting number of dilutive shares, was not determinable until the contingency was resolved. In connection with the closing of the IPO, the Company’s outstanding convertible SAFE shares automatically converted into 2,391,418 shares of common stock.