Earnings per Share
The following table summarizes the computation of basic and diluted net loss per share:
Year Ended December 31,
20252024
Numerator:
Net loss$(59,430,919)$(135,479,890)
Denominator:
Weighted average common shares outstanding, basic and diluted54,846,15536,783,626
Net loss per share, basic and diluted$(1.08)$(3.68)
Excluded anti-dilutive shares7,501,4821,077,091
In 2025 and 2024, the dilutive impact of outstanding RSUs were excluded from the computation of weighted-average diluted shares as a result of the Company’s net loss as its inclusion would have been anti-dilutive.

Historical Timeline

Fiscal YearFiled
2025Apr 15, 2026Showing above
2024Mar 28, 2025

About Earnings Per Share Disclosures

The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.

Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.