Net Loss Per Share Attributable to Common Shareholders

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Net Loss Per Share Attributable to Common Shareholders

6.Net Loss Per Share Attributable to Common Stockholders

Series Seed Preferred Stock, Series A Preferred Stock, and common stock are participating securities in the calculation of loss per share as they participate in undistributed earnings on an as-if-converted basis. Basic and diluted earnings per share was the same for each period presented as the inclusion of all potential common stock outstanding would have been anti-dilutive.

The following table sets forth the computation of basic and diluted loss (in thousands, except for share and per share amounts):

	Three Months Ended March 31,
	2022			2021
Net loss	$	(9,662	)	$	(5,330	)
Less: Cumulative preferred dividends allocated to Series A preferred stockholders		—			(388	)
Net loss attributable to common stockholders, basic and diluted	$	(9,662	)	$	(5,718	)
Weighted-average common stock outstanding		23,605,075			11,146,401
Less: weighted-average shares of common stock subject to vesting		(191,862	)		(461,481	)
Weighted-average shares of common stock outstanding used in the calculation of basic and diluted net loss per share attributable to shareholders		23,413,213			10,684,920
Loss per share attributable to common shareholders, basic and diluted	$	(0.41	)	$	(0.54	)

The following potentially dilutive securities have been excluded from the computation of diluted weighted average shares outstanding, as they would be anti-dilutive:

	Three Months Ended March 31
	2022		2021
SAFE agreements		—		2,213,815
Options to purchase common stock		1,717,681		227,125
		1,717,681		2,440,940