Net Income (Loss) Per Common Share

3 Months Ended

Mar. 31, 2024

Earnings Per Share [Abstract]

Net Income (Loss) Per Common Share

Net Loss Per Common Share

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

	Three Months Ended March 31,
	2024		2023
Numerator:
Net loss	$	(12,537)	$	(10,175)
Adjustment for preferred stock cumulative dividends and deemed dividends	(3,670)		(3,051)
Numerator for basic and diluted net loss per common share	$	(16,207)	$	(13,226)
Denominator:
Weighted average common shares outstanding	48,488		43,847
Adjustment for participating securities	(3,454)		(742)
Adjustment for warrants outstanding (1)	2,690		2,204
Shares used to calculate basic and diluted net loss per share	47,724		45,309
Basic and diluted net loss per common share	$	(0.34)	$	(0.29)
Cash dividends declared per common share	$	—	$	—

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(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 March 31,
	2024	2023
Stock Options	257	516
2019 Warrants	1,500	1,500
Performance share units	268	—
Total antidilutive securities	2,025	2,016

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 months ended March 31, 2024. The 2019 Warrants excluded from the calculation of diluted net loss per share had a per share exercise price of $11.03. Performance share units are potentially dilutive when the related performance criterion has been met.