| Schedule of Basic and Diluted Earnings Per Share |
Diluted net loss per share is calculated using the if-converted method, which assumes conversion of all non-voting common stock to voting common stock.
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Year ended December 31, 2023 |
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Voting common stock |
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Non-voting common stock |
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Basic net loss per share: |
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Numerator |
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Allocation of undistributed losses |
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$ |
(64,776 |
) |
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$ |
(2,899 |
) |
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Denominator |
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Weighted average number of shares used in basic per share computation |
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39,192,445 |
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1,753,505 |
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Net loss per share, basic |
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$ |
(1.65 |
) |
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$ |
(1.65 |
) |
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Diluted net loss per share: |
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Numerator |
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Allocation of undistributed losses for basic computation |
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$ |
(64,776 |
) |
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$ |
(2,899 |
) |
Reallocation of undistributed losses as a result of conversion of
non-voting to voting common shares |
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(2,899 |
) |
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— |
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Allocation of undistributed losses |
|
$ |
(67,675 |
) |
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$ |
(2,899 |
) |
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Denominator |
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Weighted average number of shares used in basic per share computation |
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39,192,445 |
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1,753,505 |
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Add: conversion of non-voting to voting common shares outstanding |
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1,753,505 |
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— |
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Weighted average number of shares used in diluted per share computation |
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40,945,950 |
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1,753,505 |
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Net loss per share, diluted |
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$ |
(1.65 |
) |
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$ |
(1.65 |
) |
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Year ended December 31, 2022 |
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Voting common stock |
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Non-voting common stock |
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Basic net loss per share: |
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Numerator |
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Allocation of undistributed losses |
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$ |
(46,966 |
) |
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$ |
(6,009 |
) |
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Denominator |
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Weighted average number of shares used in basic per share computation |
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26,014,159 |
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3,328,750 |
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Net loss per share, basic |
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$ |
(1.81 |
) |
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$ |
(1.81 |
) |
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Diluted net loss per share: |
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Numerator |
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Allocation of undistributed losses for basic computation |
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$ |
(46,966 |
) |
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$ |
(6,009 |
) |
Reallocation of undistributed losses as a result of conversion of
non-voting to voting common shares |
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(6,009 |
) |
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— |
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Allocation of undistributed losses |
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$ |
(52,975 |
) |
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$ |
(6,009 |
) |
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Denominator |
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Weighted average number of shares used in basic per share computation |
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26,014,159 |
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3,328,750 |
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Add: conversion of non-voting to voting common shares outstanding |
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3,328,750 |
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— |
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Weighted average number of shares used in diluted per share computation |
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29,342,909 |
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3,328,750 |
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Net loss per share, diluted |
|
$ |
(1.81 |
) |
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$ |
(1.81 |
) |
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| Schedule of Antidilutive Shares Excluded from Calculation of Diluted Net Loss Per Share |
The following outstanding potentially dilutive shares have been excluded from the calculation of diluted net loss per share, as their effect is anti-dilutive:
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As of December 31, |
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2023 |
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2022 |
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Stock options to purchase common stock |
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8,141,035 |
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6,013,384 |
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8,141,035 |
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6,013,384 |
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