| 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 |
|