| 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
September 30, 2024 |
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Nine months ended
September 30, 2024 |
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Voting common stock |
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Non-voting common stock |
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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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$ |
(30,629 |
) |
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$ |
— |
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$ |
(82,185 |
) |
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$ |
(1,093 |
) |
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Denominator |
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Weighted average number of shares used in basic per share computation |
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49,470,666 |
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— |
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48,758,341 |
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648,351 |
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Net loss per share, basic |
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$ |
(0.62 |
) |
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$ |
— |
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$ |
(1.69 |
) |
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$ |
(1.69 |
) |
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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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$ |
(30,629 |
) |
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$ |
— |
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$ |
(82,185 |
) |
|
$ |
(1,093 |
) |
Reallocation of undistributed losses as a result of conversion of
non-voting to voting common shares |
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— |
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— |
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(1,093 |
) |
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— |
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Allocation of undistributed losses |
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$ |
(30,629 |
) |
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$ |
— |
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$ |
(83,278 |
) |
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$ |
(1,093 |
) |
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Denominator |
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Weighted average number of shares used in basic per share computation |
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49,470,666 |
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— |
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48,758,341 |
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648,351 |
|
Add: conversion of non-voting to voting common shares outstanding |
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— |
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— |
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648,351 |
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— |
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Weighted average number of shares used in diluted per share computation |
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49,470,666 |
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— |
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49,406,692 |
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648,351 |
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Net loss per share, diluted |
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$ |
(0.62 |
) |
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$ |
— |
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$ |
(1.69 |
) |
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$ |
(1.69 |
) |
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Three months ended
September 30, 2023 |
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Nine months ended
September 30, 2023 |
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Voting common stock |
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Non-voting common stock |
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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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$ |
(15,756 |
) |
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$ |
(692 |
) |
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$ |
(44,591 |
) |
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$ |
(2,198 |
) |
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Denominator |
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Weighted average number of shares used in basic per share computation |
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42,110,435 |
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1,851,705 |
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37,701,522 |
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1,857,708 |
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Net loss per share, basic |
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$ |
(0.37 |
) |
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$ |
(0.37 |
) |
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$ |
(1.18 |
) |
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$ |
(1.18 |
) |
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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 |
|
$ |
(15,756 |
) |
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$ |
(692 |
) |
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$ |
(44,591 |
) |
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$ |
(2,198 |
) |
Reallocation of undistributed losses as a result of conversion of
non-voting to voting common shares |
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|
(692 |
) |
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— |
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(2,198 |
) |
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— |
|
Allocation of undistributed losses |
|
$ |
(16,448 |
) |
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$ |
(692 |
) |
|
$ |
(46,789 |
) |
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$ |
(2,198 |
) |
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Denominator |
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Weighted average number of shares used in basic per share computation |
|
|
42,110,435 |
|
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1,851,705 |
|
|
|
37,701,522 |
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|
|
1,857,708 |
|
Add: conversion of non-voting to voting common shares outstanding |
|
|
1,851,705 |
|
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— |
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1,857,708 |
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— |
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Weighted average number of shares used in diluted per share computation |
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43,962,140 |
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1,851,705 |
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39,559,230 |
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1,857,708 |
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Net loss per share, diluted |
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$ |
(0.37 |
) |
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$ |
(0.37 |
) |
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$ |
(1.18 |
) |
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$ |
(1.18 |
) |
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