Net Income (Loss) per Share

3 Months Ended

Mar. 31, 2024

13.

Net Income (Loss) per Share

Basic and diluted net income (loss) per share was calculated as follows:


	Three Months Ended March 31,
	2024			2023
Numerator:
Net income (loss)	$	5,586		$	(17,801	)
Cumulative undeclared preferred dividends to participating securities (Legacy Series D convertible preferred stock)		—			(717	)
Net income (loss) attributable to common shareholders - Basic	$	5,586		$	(18,518	)
Adjustment for change in fair value of liability classified warrants		(108	)		—
Net income (loss) attributable to common shareholders - Diluted	$	5,478		$	(18,518	)

Basic weighted-average common shares outstanding		47,779,350			27,087,174
Effect of potentially dilutive securities:
Stock options		1,117,680			—
Restricted stock units		172,077			—
Warrants		121,367			—
Diluted weighted-average common shares outstanding		49,190,474			27,087,174

Basic net income (loss) per common share	$	0.12		$	(0.68	)
Diluted net income (loss) per common share	$	0.11		$	(0.68	)

The Company excluded the following potential shares of Common Stock, presented based on amounts outstanding at each period end, from the computation of diluted net income (loss) per share attributable to common stockholders for the periods indicated because including them would have had an anti-dilutive effect. As the triggering event under which the Earn-Out shares become issuable has not been met as of March 31, 2024, the Earn-Out shares have been excluded from the computation of diluted net income (loss) per share.


	As of March 31,
	2024		2023
Outstanding options to purchase Common Stock		2,811,144		4,273,881
Restricted Stock Units		483,939		1,415,104
Warrants to purchase preferred stock (as converted to warrants to purchase Common Stock)		220,529		294,300
Warrants to purchase Common Stock		—		138,857
Shares of Common Stock issued upon the exercise of Public Warrants		18,759,696		—
Earn-Out Shares		9,000,000		—
Convertible Notes		—		2,552,080
Total		31,275,308		8,674,222