v3.26.1
Note 8 - Net Loss Per Share
 3 Months Ended
Mar. 31, 2026
Notes to Financial Statements  
Earnings Per Share [Text Block]

Note 8 - Net Loss Per Share

 

Basic net income (loss) per share is computed by dividing net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. The weighted-average number of shares of Common Stock outstanding does not include any potentially dilutive securities or unvested restricted shares of Common Stock ("Restricted Stock"). 

 

Diluted net income per share is computed by giving effect to all potential shares of Common Stock, including stock options, preferred stock, warrants, and unvested Restricted Stock, to the extent they are dilutive. For the three months ended March 31, 2026, and 2025, all such Common Stock equivalents have been excluded from diluted net income (loss) per share as the effect would be anti-dilutive. 

 

The following table sets forth the computation of the Company’s basic and diluted net loss per share (in thousands, except share and per share data):

 

  

Three Months Ended March 31,

 
  

2026

  

2025

 

Numerator:

        

Net income (loss)

 $1,697  $(672)

Less: preferred stock dividends

  4   12 

Net income (loss) attributable to common stockholders

 $1,693  $(684)

Denominator:

        

Weighted-average number of shares of Common Stock for basic net loss per share

  3,913,471   1,151,482 

Basic net income (loss) per share

 $0.43  $(0.59)

Weighted-average number of shares of Common Stock for diluted net loss per share

  3,913,471   1,151,482 

Diluted net income (loss) per share

 $0.43  $(0.59)

 

The following table represents the potential shares of Common Stock that were excluded from the computation of diluted weighted-average number of shares for the three months ended March 31, 2026, and 2025, because including them would have had an anti-dilutive effect:

 

  

As of March 31,

 
  

2026

  

2025

 

Common stock issuable upon conversion of Series F Preferred Stock (1)

  46,783   52,512 

Common stock issuable upon conversion of Preferred Warrants (2)

  8,097,347   2,784,921 

Common stock issuable upon exercise of warrants for Common Stock

  2,102,467   2,262,203 

 

 

(1)

Calculation assumes conversion of the stated value and accrued dividends of the Series F Preferred Stock into Common Stock at a conversion price of $3.77 per share as of March 31, 2026, and a conversion price of $11.17 as of March 31, 2025.

 

(2)

Calculation assumes exercise of the Preferred Warrants for cash into Series F Preferred Stock and subsequent conversion of the Series F Preferred Stock into Common Stock at a conversion price of $3.77 as of March 31, 2026, and a conversion price of $11.17 as of March 31, 2025.