Net Loss Per Share

12 Months Ended

Dec. 31, 2023

Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. The weighted-average number of shares of common stock outstanding does not include any potentially dilutive securities or any unvested restricted shares of common stock. Vested

RSUs (for which shares of common stock have not yet been delivered) are included in the calculations of basic net loss per share. Unvested RSUs are not included in calculations of basic net loss per share, as they are not considered issued and outstanding at time of grant.

Diluted net loss per share is computed by giving effect to all potential shares of common stock, including warrants, stock options, RSUs, and unvested restricted stock awards, to the extent they are dilutive. For the year ended December 31, 2023, all such common stock equivalents have been excluded from diluted net loss per share as the effect to net loss per share would be anti-dilutive (due to the net losses).

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


	Year Ended December 31,
Numerator:	2023		2022
Net loss	$	(4,384)	$	(21,941)
Less: preferred stock dividends	343		—

Less: conversion inducement	751		—
Less: warrant modification	25		—
Net loss attributable to common stockholders	$	(5,503)	$	(21,941)
Denominator:
Weighted-average number of shares of common stock for basic net loss per share	5,595		2,065
Basic net loss per share	$	(0.98)	$	(10.62)

The following table represents the potential shares that were excluded from the computation of weighted-average number of shares of common stock in computing the diluted net loss per share for the periods presented because including them would have had an anti-dilutive effect:


	Year Ended December 31,
	2023	2022
Unvested restricted stock units	—	42

Outstanding stock options	10,000	16,668

Common stock issuable upon conversion of Series F Preferred Stock (1)	7,392,776	—
Common stock issuable upon conversion of Series F Preferred Warrants (2)	117,299,427	—
Common stock issuable upon conversion of Common Stock Warrants	4,137,850	343,099

(1) Calculation assumes conversion of the stated value, and accrued dividends, of the Series F Preferred Stock as of December 31, 2023 into Common Stock at the Floor Price.

(2) Calculation assumes exercise of the Series F Preferred Warrants for cash into Series F Preferred Stock and subsequent conversion of the Series F Preferred Stock into Common Stock at the Floor Price.