Quarterly report pursuant to Section 13 or 15(d)

Net Loss Per Share (Tables)

v3.24.1.1.u2
Net Loss Per Share (Tables)
3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
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.

 

 

Three months ended
March 31, 2024

 

 

 

Voting common stock

 

 

Non-voting common stock

 

Basic net loss per share:

 

 

 

 

 

 

Numerator

 

 

 

 

 

 

Allocation of undistributed losses

 

$

(24,313

)

 

$

(734

)

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

Weighted average number of shares used in basic per share computation

 

 

47,858,608

 

 

 

1,444,295

 

Net loss per share, basic

 

$

(0.51

)

 

$

(0.51

)

 

 

 

 

 

 

 

Diluted net loss per share:

 

 

 

 

 

 

Numerator

 

 

 

 

 

 

Allocation of undistributed losses for basic computation

 

$

(24,313

)

 

$

(734

)

Reallocation of undistributed losses as a result of conversion of
     non-voting to voting common shares

 

 

(734

)

 

 

 

Allocation of undistributed losses

 

$

(25,047

)

 

$

(734

)

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

Weighted average number of shares used in basic per share computation

 

 

47,858,608

 

 

 

1,444,295

 

Add: conversion of non-voting to voting common shares outstanding

 

 

1,444,295

 

 

 

 

Weighted average number of shares used in diluted per share computation

 

 

49,302,903

 

 

 

1,444,295

 

Net loss per share, diluted

 

$

(0.51

)

 

$

(0.51

)

 

 

 

 

Three months ended
March 31, 2023

 

 

 

Voting common stock

 

 

Non-voting common stock

 

Basic net loss per share:

 

 

 

 

 

 

Numerator

 

 

 

 

 

 

Allocation of undistributed losses

 

$

(15,022

)

 

$

(832

)

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

Weighted average number of shares used in basic per share computation

 

 

33,588,436

 

 

 

1,860,759

 

Net loss per share, basic

 

$

(0.45

)

 

$

(0.45

)

 

 

 

 

 

 

 

Diluted net loss per share:

 

 

 

 

 

 

Numerator

 

 

 

 

 

 

Allocation of undistributed losses for basic computation

 

$

(15,022

)

 

$

(832

)

Reallocation of undistributed losses as a result of conversion of
     non-voting to voting common shares

 

 

(832

)

 

 

 

Allocation of undistributed losses

 

$

(15,854

)

 

$

(832

)

 

 

 

 

 

 

 

Denominator

 

 

 

 

 

 

Weighted average number of shares used in basic per share computation

 

 

33,588,436

 

 

 

1,860,759

 

Add: conversion of non-voting to voting common shares outstanding

 

 

1,860,759

 

 

 

 

Weighted average number of shares used in diluted per share computation

 

 

35,449,195

 

 

 

1,860,759

 

Net loss per share, diluted

 

$

(0.45

)

 

$

(0.45

)

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:

 

 

As of March 31,

 

 

 

2024

 

 

2023

 

Stock options to purchase common stock

 

 

9,831,422

 

 

 

7,951,804

 

 

 

9,831,422

 

 

 

7,951,804