NET LOSS PER SHARE

3 Months Ended

Mar. 31, 2025

Earnings Per Share [Abstract]

NET LOSS PER SHARE

3. NET LOSS PER SHARE

Basic net loss per share is calculated using the weighted-average number of common shares outstanding during the period. Diluted net loss per share is calculated using the weighted-average number of common shares outstanding and the dilutive effect of all potentially dilutive securities, including common stock equivalents and convertible securities. As the effect of dilutive securities outstanding during the period is anti-dilutive, diluted net loss per share is equal to basic net loss per share.

The components of basic and diluted net loss per share are as follows (in thousands, except loss per share data):

	Three Months Ended
	March 31,
	2025			2024
Numerator:
Net loss available for common shareholders - basic and diluted	$	(28,779	)	$	(26,313	)
Denominator:
Weighted-average common shares outstanding - basic and diluted		235,933			196,748
Net loss per share - basic and diluted	$	(0.12	)	$	(0.13	)

For the three months ended March 31, 2025 and 2024, we excluded the following securities from net loss per share as the effect of including them would have been anti-dilutive: outstanding options exercisable into a total of 0.7 million and 0.7 million shares of common stock, respectively, and 12.4 million and 9.2 million nonvested restricted stock units, respectively; 20.5 million and 0.0 million shares of common stock that may be issued through conversion of the derivative liability, respectively (see Note 6. Notes Payable and Derivative Liability); and 5.8 million and 0.0 million shares of common stock that may be issued through the exercise of warrants, respectively (see Note 7. Warrant Liability).