| 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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Three months ended
March 31, 2024 |
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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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$ |
(24,313 |
) |
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$ |
(734 |
) |
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Denominator |
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Weighted average number of shares used in basic per share computation |
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47,858,608 |
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1,444,295 |
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Net loss per share, basic |
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$ |
(0.51 |
) |
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$ |
(0.51 |
) |
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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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$ |
(24,313 |
) |
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$ |
(734 |
) |
Reallocation of undistributed losses as a result of conversion of
non-voting to voting common shares |
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(734 |
) |
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— |
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Allocation of undistributed losses |
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$ |
(25,047 |
) |
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$ |
(734 |
) |
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Denominator |
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Weighted average number of shares used in basic per share computation |
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47,858,608 |
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1,444,295 |
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Add: conversion of non-voting to voting common shares outstanding |
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1,444,295 |
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— |
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Weighted average number of shares used in diluted per share computation |
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49,302,903 |
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1,444,295 |
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Net loss per share, diluted |
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$ |
(0.51 |
) |
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$ |
(0.51 |
) |
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Three months ended
March 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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$ |
(15,022 |
) |
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$ |
(832 |
) |
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Denominator |
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Weighted average number of shares used in basic per share computation |
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33,588,436 |
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1,860,759 |
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Net loss per share, basic |
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$ |
(0.45 |
) |
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$ |
(0.45 |
) |
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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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$ |
(15,022 |
) |
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$ |
(832 |
) |
Reallocation of undistributed losses as a result of conversion of
non-voting to voting common shares |
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(832 |
) |
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— |
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Allocation of undistributed losses |
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$ |
(15,854 |
) |
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$ |
(832 |
) |
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Denominator |
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Weighted average number of shares used in basic per share computation |
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33,588,436 |
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1,860,759 |
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Add: conversion of non-voting to voting common shares outstanding |
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1,860,759 |
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— |
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Weighted average number of shares used in diluted per share computation |
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35,449,195 |
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1,860,759 |
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Net loss per share, diluted |
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$ |
(0.45 |
) |
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$ |
(0.45 |
) |
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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 March 31, |
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2024 |
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2023 |
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Stock options to purchase common stock |
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9,831,422 |
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7,951,804 |
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9,831,422 |
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7,951,804 |
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