Company: ANY
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001591956-25-000006
Chunk: 20

Company: Sphere 3D Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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 grant. The total grant date fair value of RSUs vested for the three months ended March 31, 2025 and 2024 was approximately $0.4 million and $0.7 million, respectively. The fair value of RSUs vested for the three months ended March 31, 2025 and 2024 was approximately $0.2 million and $0.7 million, respectively. Share-Based Compensation Expense The Company recorded the following compensation expense related to its share-based compensation awards (in thousands):Three MonthsEnded March 31,20252024General and administrative$71 $1,086 Total share-based compensation expense$71 $1,086 Total unrecognized estimated compensation cost by type of award and the weighted-average remaining requisite service period over which such expense is expected to be recognized (in thousands, unless otherwise noted):March 31, 2025Unrecognized ExpenseRemaining Weighted-Average Recognition Period (years)RSUs$639 1.6Stock options$18 0.1

11.Net Loss per Share

Basic net loss per share is computed by dividing net loss applicable to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted net loss per share reflects the potential dilution of securities that could share in the earnings of an entity. The calculation of diluted net loss per share gives effect to common share equivalents; however, potential common shares are excluded if their effect is anti-dilutive. Common share purchase warrants, preferred shares, and options and RSUs outstanding are considered common share equivalents and are only included in the calculation of diluted earnings per common share when net income is reported and their effect is dilutive. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the Company’s net loss position.The remaining outstanding 1,087,000 Pre-Funded Warrants issued in November 2024 are included in the computation of basic and diluted shares outstanding as the stated exercise price is not substantive.Anti-dilutive common share equivalents excluded from the computation of diluted net loss per share were as follows:Three MonthsEnded March 31, 20252024Common share purchase warrants8,918,988 5,842,354 Options and RSUs outstanding1,403,893 1,950,262 Preferred shares23,000 3,793,710 

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12.Commitments and Contingencies

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