Net Loss per Share (Tables)

12 Months Ended

Dec. 31, 2024

Earnings Per Share [Abstract]

Summary of Basic and Diluted Net Loss per Share Attributable to Common Stockholders

Basic and diluted net loss per share attributable to common stockholders was calculated as follows (dollar amounts in thousands):

	Year Ended December 31,
	2024			2023
Numerator:
Net loss	$	(62,806	)	$	(20,537	)
Preferred Stock cumulative dividends		(13,589	)		(17,718	)
Net loss attributable to common stockholders	$	(76,395	)	$	(38,255	)
Denominator:
Weighted-average common shares outstanding, basic    and diluted		13,682,326			2,953,756
Net loss per share attributable to common stockholders,    basic and diluted	$	(5.58	)	$	(12.95	)

Schedule of Dilutive Securities Excluded from Calculation of Diluted Net Loss per Share

The following potentially dilutive securities have been excluded from the calculation of diluted net loss per share due to their anti-dilutive effect:

	As of December 31,
	2024		2023
Preferred Stock (as converted to common stock)(1)		—		24,065,280
Stock options to purchase common stock		6,490,571		4,166,107
		6,490,571		28,231,387

(1)As of December 31, 2023, the Preferred Stock excludes 8,823,523 shares of Series B Preferred Stock (or 9,255,869 shares as converted to common stock) that were contingently issuable upon settlement of the Series B preferred stock tranche right liability (Note 8).