NET LOSS PER SHARE

6 Months Ended

Jun. 30, 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						Six Months Ended
	June 30,						June 30,
	2025			2024			2025			2024
Numerator:
Net loss available for common shareholders - basic and diluted	$	(14,229	)	$	(23,930	)	$	(43,008	)	$	(50,243	)
Denominator:
Weighted-average common shares outstanding - basic and diluted		254,658			208,665			245,347			202,706
Net loss per share - basic and diluted	$	(0.06	)	$	(0.11	)	$	(0.18	)	$	(0.25	)

For the three and six months ended June 30, 2025 and 2024, the following securities from net loss per share have been excluded 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, 21.2 million and 12.5 million nonvested restricted and performance 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).