Year Ended December 31,

2025

2024

Class A
Common Stock

Class A
Common Stock

Class B
Common Stock

Basic net income (loss) per share of common stock

Numerator:

Allocation of net income (loss)

$

(9,040,198

)

$

198,830,017

$

16,865,545

Denominator:

Basic weighted average shares outstanding

59,143,290

47,964,244

4,068,516

Basic net income (loss) per share of common stock

$

(0.15

)

$

4.15

$

4.15

Diluted net income (loss) per share of common stock

Numerator:

Allocation of net income (loss)

$

(9,040,198

)

$

199,301,831

$

16,393,731

Denominator:

Diluted weighted average shares outstanding

59,143,290

49,461,753

4,068,516

Diluted net income (loss) per share of common stock

$

(0.15

)

$

4.03

$

4.03