Loss Per Share

12 Months Ended

Dec. 31, 2024

LOSS PER SHARE

Basic net loss per share is computed by dividing net loss by the weighted average number of shares outstanding. Diluted net loss per share is computed by also considering the impact of potential common stock on both net loss and the weighted average number of shares outstanding. Our potential common stock consists of employee stock options, time-based restricted stock units, market-based restricted stock unit awards, and common stock issued for settlement of the Notes (as defined in Note 20 to the consolidated financial statements). Our potential common stock is included in the diluted earnings per share calculation when adding such potential common stock would not be anti-dilutive. Market-based awards are included in the computation of diluted earnings per share only to the extent that the underlying conditions (and any applicable market condition) (i) are satisfied as of the end of the reporting period or (ii) would be considered satisfied if the end of the reporting period were the end of the related contingency period and the result would be dilutive under the treasury stock method. When we report a net loss for the period presented, the calculation of diluted net loss per share excludes our potential common stock, as the effect would be anti-dilutive.

The Company had $72.0 million aggregate principal amount of the Notes outstanding on December 31, 2024, which, if converted, would result in the issuance of a maximum of 2,039,659 shares of common stock. These shares were excluded from the dilutive calculations, as their effect would have been anti-dilutive.

A reconciliation of the number of common shares used in the calculation of basic and diluted earnings per share is presented below:


	Years Ended December 31,
	2024		2023		2022
Numerator:
Net loss	$	(9,066)	$	(56,577)	$	(26,756)
Denominator:
Weighted average shares - Basic	19,151,551		18,917,778		18,318,191
Weighted average shares - Diluted	19,151,551		18,917,778		18,318,191
Net loss per share - Basic	$	(0.47)	$	(2.99)	$	(1.46)
Net loss per share - Diluted	$	(0.47)	$	(2.99)	$	(1.46)
Securities excluded from the determination of weighted average shares for the calculation of diluted earnings per share, as they were potentially antidilutive	1,285,948		1,467,919		600,602