Note 7 - Net Loss Per Share

9 Months Ended

Sep. 30, 2025

Notes to Financial Statements

Earnings Per Share [Text Block]

Note 7 - Net Loss Per Share

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 unvested Restricted Stock. 

Diluted net loss per share is computed by giving effect to all potential shares of common stock, including stock options, preferred stock, warrants, and unvested Restricted Stock, to the extent they are dilutive. For the three and nine months ended September 30, 2025, and 2024, 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 loss).

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2025			2024			2025			2024
Numerator:
Net loss	$	(2,290	)	$	(1,040	)	$	(3,567	)	$	(3,159	)
Less: preferred stock dividends		4			12			29			76
Less: deemed dividend		—			8,974			—			8,974
Net loss attributable to common stockholders	$	(2,294	)	$	(10,026	)	$	(3,596	)	$	(12,209	)
Denominator:
Weighted-average number of shares of common stock for basic and diluted net loss per share		3,101,231			890,943			2,049,441			735,286
Basic and diluted net loss per share	$	(0.74	)	$	(11.25	)	$	(1.76	)	$	(16.60	)

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 (due to the net loss):

	As of September 30,
	2025		2024
Outstanding stock options		—		250
Common stock issuable upon conversion of Series F Preferred Stock (1)		44,747		50,222
Common stock issuable upon conversion of Series F Preferred Warrants (2)		8,097,347		2,784,922
Common stock issuable upon exercise of warrants for Common Stock		2,808,728		2,345,603

(1) Calculation assumes conversion of the stated value and accrued dividends of the Series F Preferred Stock into Common Stock at a conversion price of $3.77 per share for 2025, and a conversion price of $11.17 for 2024.

(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 a conversion price of $3.77 for 2025, and a conversion price of $11.17 for 2024.