Net Loss per Share

3 Months Ended

Mar. 31, 2024

Basic and diluted net loss per share during the three months ended March 31, 2024 and 2023 consisted of the following (in thousands, except per share amounts):


	Three Months Ended March 31,
	2024		2023
Numerator:
Net loss	$	(11,003)	$	(24,331)
Net loss attributable to common stockholders, basic	(11,003)		(24,331)
Net loss attributable to common stockholders, diluted (1)	(11,003)		(24,331)
Denominator:
Basic (2)
Weighted average common shares outstanding, basic	6,108		5,628
Basic net loss per share	$	(1.80)	$	(4.32)
Diluted (2)
Weighted average common shares outstanding, diluted (1)	6,108		5,628
Diluted net loss per share	$	(1.80)	$	(4.32)

____________

(1) Net loss attributable to common stockholders, diluted during the three months ended March 31, 2024, excludes adjustments related to the change in fair value of derivative liabilities, interest expense and amortization of discounts and issuance costs related to Convertible Debentures. Additionally, weighted average common shares outstanding, diluted as of the three months ended March 31, 2023 excludes the if-converted shares related to Convertible Debentures. These adjustments were excluded from the calculation of diluted net loss per share as they would have an antidilutive effect (see Note 8 - Convertible Notes).

(2) Shares for the three months ended March 31, 2023 have been retrospectively adjusted for the 1-for-30 reverse stock split that occurred on December 6, 2023.

Potential ending shares outstanding that were excluded from the computation of diluted net loss per share because their effect was anti-dilutive as of March 31, 2024 and 2023 consisted of the following (in thousands):


	Three Months Ended March 31,
	2024	2023
Contingent earn-out shares	547	547
Common stock public and private warrants	18,833	18,833
Restricted stock units	599	307
Stock options	2	52
If-converted common stock from convertible debt	280	1,684