Net Loss Per Share

9 Months Ended

Sep. 30, 2025

Note 15. Net Loss Per Share

Basic net loss per share is computed by dividing net loss by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potentially dilutive common stock equivalents to the extent they are dilutive. For purposes of this calculation, stock options, restricted stock units, employee stock purchase rights, and warrants to purchase common stock, are considered to be common stock equivalents but have been excluded from the calculation of diluted net loss per share as their effect is anti-dilutive for all periods presented.

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


	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	2025			2024			2025			2024
Net loss	$	(4,286	)	$	(7,565	)	$	(12,501	)	$	(21,026	)
Weighted average shares used in computing net loss per share—basic and diluted		53,516,986			51,821,395			53,462,768			44,520,132
Net loss per share—basic and diluted	$	(0.08	)	$	(0.15	)	$	(0.23	)	$	(0.47	)

The following is a summary of the common stock equivalents for the securities outstanding during the respective periods that have been excluded from the computation of diluted net loss per common share, as their effect would be anti-dilutive:


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
Equity-based compensation		5,093,158		3,873,226		4,842,013		3,970,116
Warrants to purchase common stock		—		125,000		—		94,434