| Schedule of Computation of Basic and Diluted Net Loss Per Share |
The following table sets forth the computation of basic and diluted net loss per share attributable to common shareholders (in thousands, except share and per share amounts). As the exercise price of the Company’s pre-funded warrants is $0.001 per share, it was determined to be non-substantive for accounting purposes and the pre-funded warrants were included in the denominator of both basic and diluted loss per share:
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
Numerator: |
|
|
|
|
|
|
Net loss attributable to common shareholders, basic |
|
$ |
(77,098 |
) |
|
$ |
(23,348 |
) |
Change in fair value of the 2022 USD Financing Warrants |
|
|
— |
|
|
|
(6,999 |
) |
Net loss attributable to common shareholders, diluted |
|
$ |
(77,098 |
) |
|
$ |
(30,347 |
) |
Denominator: |
|
|
|
|
|
|
Weighted-average pre-funded warrants used in computing net loss per share attributable to common shareholders, basic |
|
|
8,584,331 |
|
|
|
9,753,775 |
|
Weighted-average shares used in computing net loss per share attributable to common shareholders, basic |
|
|
100,206,610 |
|
|
|
75,314,080 |
|
Total weighted-average shares used in computing net loss per share attributable to common shareholders, basic |
|
|
108,790,941 |
|
|
|
85,067,855 |
|
Incremental shares from 2022 USD Financing Warrants |
|
|
— |
|
|
|
2,023,606 |
|
Total weighted-average shares used in computing net loss per share attributable to common shareholders, diluted |
|
|
108,790,941 |
|
|
|
87,091,461 |
|
|
|
|
|
|
|
|
Net loss per share: |
|
|
|
|
|
|
Basic |
|
$ |
(0.71 |
) |
|
$ |
(0.27 |
) |
Diluted |
|
$ |
(0.71 |
) |
|
$ |
(0.35 |
) |
|
| Schedule of Potentially Dilutive Securities Excluded from Calculation of Diluted Net Loss Per Share due to Anti-dilutive Effect |
The following potentially dilutive securities have been excluded from the calculation of diluted net loss per share due to their anti-dilutive effect:
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|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
|
2026 |
|
|
2025 |
|
|
2022 USD Financing Warrants |
|
|
3,298,154 |
|
|
|
— |
|
|
Stock options |
|
|
6,195,400 |
|
|
|
4,465,831 |
|
|
RSUs |
|
|
8,175,499 |
|
|
|
5,948,852 |
|
|
Conversion Shares |
|
|
760,683 |
|
|
|
249,377 |
|
|
Estimated ESPP shares |
|
|
40,244 |
|
|
|
27,939 |
|
|
Total |
|
|
18,469,980 |
|
|
|
10,691,999 |
|
|
|