Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Financial Statements Details (Tables)

v3.24.2.u1
Condensed Consolidated Financial Statements Details (Tables)
6 Months Ended
Jun. 30, 2024
Condensed Consolidated Financial Statement Details  
Schedule of accrued and other liabilities

Accrued and other liabilities consisted of the following (in thousands):

June 30, 

December 31, 

    

2024

    

2023

Accrued short-term interest payable

$

3,120

$

Accrued incentive compensation

786

1,203

Other accrued liabilities

483

625

Accrued legal and accounting fees

357

791

Accrued payroll, severance and retention costs

 

123

 

149

Total

$

4,869

$

2,768

Schedule of reconciliation of numerator and denominator used in calculation of basic and diluted net loss per share attributable to common stockholders

The following table includes the computation of basic and diluted net income (loss) per share available to (attributable to) common stockholders (in thousands, except per share amounts):

Three Months Ended June 30, 

Six Months Ended June 30, 

    

2024

    

2023

    

2024

    

2023

Numerator

 

  

 

  

 

  

 

  

Net income (loss)

$

15,985

$

(5,400)

$

7,390

$

(15,213)

Less: Series A accumulated dividends

 

(530)

 

(530)

 

(1,061)

 

(1,061)

Less: Series B accumulated dividends

(838)

(838)

(1,675)

(1,675)

Less: Allocation of undistributed earnings to participating securities

 

(4,393)

 

(1,401)

Net income (loss) available to (attributable to) common stockholders, basic

$

10,224

$

(6,768)

$

3,253

$

(17,949)

Add: Adjustments to undistributed earnings allocated to participating securities

 

4,393

 

1,401

Net income (loss) available to (attributable to) common stockholders, diluted

$

14,617

$

(6,768)

$

4,654

$

(17,949)

 

 

Denominator

 

 

 

 

Weighted-average shares used in computing net income (loss) per share available to (attributable to) common stockholders, basic

 

11,643

11,466

 

11,611

 

11,463

Effect of dilutive Series X Preferred Stock

5,003

5,003

Effect of dilutive common stock options

 

673

 

647

Effect of dilutive warrants for common stock

 

2

 

2

Weighted-average shares used in computing net income (loss) per share available to (attributable to) common stockholders, diluted

 

17,321

11,466

 

17,263

 

11,463

Net income (loss) available to (attributable to) common stockholders, basic

$

0.88

$

(0.59)

$

0.28

$

(1.57)

Net income (loss) per share available to (attributable to) common stockholders, diluted

$

0.84

$

(0.59)

$

0.27

$

(1.57)

Schedule of outstanding securities considered anti-dilutive

The following table shows the weighted-average shares from outstanding securities considered anti-dilutive and therefore excluded from the computation of diluted net income (loss) per share available to (attributable to) common stockholders (in thousands):

Three Months Ended June 30, 

Six Months Ended June 30, 

    

2024

    

2023

    

2024

    

2023

Convertible preferred stock

5,003

5,003

Common stock options

 

1,107

1,719

 

1,311

1,634

Warrants for common stock

 

120

6

 

120

6

Total

 

1,227

 

6,728

 

1,431

 

6,643