| Summary of Earnings Per Share, Basic and Diluted |
Diluted earnings per share include shares issuable upon exercise of outstanding stock options and stock-based awards where the conversion of such instruments would be dilutive.
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Three Months Ended September 30, |
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|
Nine Months Ended September 30, |
|
(in thousands, except per share amounts) |
|
2024 |
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2023 |
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2024 |
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2023 |
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Numerator: |
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Net loss |
|
$ |
(23,370 |
) |
|
$ |
(51,362 |
) |
|
$ |
(73,714 |
) |
|
$ |
(89,369 |
) |
Net loss attributable to common stockholders - Basic & Diluted |
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|
(23,370 |
) |
|
|
(51,362 |
) |
|
|
(73,714 |
) |
|
|
(89,369 |
) |
Denominator: |
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Weighted average shares outstanding - Basic |
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20,330,917 |
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19,741,014 |
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|
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20,129,099 |
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|
|
19,639,131 |
|
Add: Weighted average unvested options outstanding |
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— |
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— |
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— |
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— |
|
Add: Dilutive effect of restricted units issued |
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— |
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— |
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— |
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— |
|
Weighted average shares outstanding - Diluted |
|
|
20,330,917 |
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|
|
19,741,014 |
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|
|
20,129,099 |
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|
|
19,639,131 |
|
Net loss per common share: |
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Basic |
|
$ |
(1.15 |
) |
|
$ |
(2.60 |
) |
|
$ |
(3.66 |
) |
|
$ |
(4.55 |
) |
Diluted |
|
|
(1.15 |
) |
|
|
(2.60 |
) |
|
|
(3.66 |
) |
|
|
(4.55 |
) |
|
| Summary of Dilutive Securities are Excluded from the Denominator |
The following dilutive securities are excluded from the denominator:
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Three Months Ended
September 30, |
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|
Nine Months Ended
September 30, |
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2024 |
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|
2023 |
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|
2024 |
|
|
2023 |
|
Unvested restricted stock units |
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|
2,105,697 |
|
|
|
1,637,365 |
|
|
|
1,609,687 |
|
|
|
1,232,995 |
|
Unvested or unexercised options |
|
|
1,067,644 |
|
|
|
1,113,728 |
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|
|
1,070,432 |
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|
|
1,118,821 |
|
Warrants |
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|
852,498 |
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|
|
852,498 |
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|
|
852,498 |
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|
|
852,498 |
|
Contingently issuable earnout shares |
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|
1,466,666 |
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|
1,466,666 |
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|
|
1,466,666 |
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|
1,466,666 |
|
Total |
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5,492,505 |
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5,070,257 |
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4,999,283 |
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4,670,980 |
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