Note 13. Loss per Share

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Basic and diluted net loss per share for the three and nine months ended September 30, 2025 and 2024 consisted of the following (in thousands, except shares and per share amounts):

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As the average market price of common stock for the three and nine months ended September 30, 2025 did not exceed the exercise price of the Warrants, the potential dilution from the Warrants converting into 14,385,500 shares of common stock for both periods have been excluded from the number of shares used in calculating diluted net loss per share as their inclusion would have been antidilutive. For the three and nine months ended September 30, 2025, the potential dilution from unvested RSUs converting into 768,066 shares and 550,640 shares of common stock, respectively, has been excluded from the number of shares used in calculating diluted net loss per share as their inclusion would have been antidilutive. For three and nine months ended September 30, 2024, the potential dilution from unvested RSUs converting into 599,547 shares and 398,998 shares of common stock, respectively, has been excluded from the number of shares used in calculating diluted net loss per share as their inclusion would have been antidilutive.