Net Income (Loss) Per Common Share

9 Months Ended

Sep. 30, 2023

Net Loss Per Common Share

The following table summarizes the computation of basic and diluted net loss per common share.


	Three Months Ended September 30,				Nine Months Ended September 30,
	2023		2022		2023		2022
Numerator:
Net loss	$	(5,057)	$	(2,215)	$	(29,609)	$	(14,084)
Adjustment for preferred stock cumulative dividends and deemed dividends	(3,347)		(2,783)		(9,594)		(7,979)



Numerator for basic and diluted net loss per common share	$	(8,404)	$	(4,998)	$	(39,203)	$	(22,063)

Denominator:
Weighted average common shares outstanding	47,186		43,884		45,793		43,695
Adjustment for participating securities	(3,496)		(1,065)		(2,365)		(918)
Adjustment for warrants outstanding (1)	3,849		1,892		2,982		1,893




Shares used to calculate basic and diluted net loss per share	47,539		44,711		46,410		44,670








Basic and diluted net loss per common share	$	(0.18)	$	(0.11)	$	(0.84)	$	(0.49)
Cash dividends declared per common share	$	—	$	—	$	—	$	—

_______________________________

(1) Outstanding warrants that are exercisable at an exercise price of $0.01 per share, are included in shares outstanding for calculation of basic earnings per share (see Note 15).

The following table presents securities that could be potentially dilutive in the future that were excluded from the calculation of diluted net loss per common share because they had an anti-dilutive effect.


	Three Months Ended September 30,		Nine Months Ended September 30,
	2023	2022	2023	2022
Stock Options	315	542	407	563
2019 Warrants	1,500	1,500	1,500	1,500

	1,815	2,042	1,907	2,063

Stock options excluded from the calculations of diluted net loss per share had a per share exercise price ranging from $7.93 to $25.16 for the three and nine months ended September 30, 2023. The 2019 Warrants excluded from the calculation of diluted net loss per share had a per share exercise price of $11.03.