| Schedule of Earnings Per Share, Basic and Diluted |
The following table sets forth the computation of basic and dilutive net income (loss) per share attributable to common stockholders for the three months ended March 31, 2026 and 2025 (in thousands, except per share amounts): | | | | | | | | | | | | | | | | | Three Months Ended
March 31, | | | | 2026 | | 2025 | | | | | | Basic net income (loss) per share: | | | | | | | | | Numerator: | | | | | | | | Net income (loss) | $ | 17,970 | | | $ | (3,988) | | | | | | | | | | | | | | | | | | | | | | | Denominator: | | | | | | | | Weighted-average shares used in calculating net income (loss) per share, basic | 45,932,719 | | | 10,312,892 | | | | | | Net income (loss) per share, basic | $ | 0.39 | | | $ | (0.39) | | | | | | | Diluted net income (loss) per share: | | | | | | | | Numerator: | | | | | | | | Net income (loss) | $ | 17,970 | | | $ | (3,988) | | | | | | Denominator: | | | | | | | | Weighted-average shares used in calculating net income (loss) per share, basic | 45,932,719 | | | 10,312,892 | | | | | | Effect of dilutive securities: | | | | | | | | | Outstanding stock options | 6,982,322 | | | — | | | | | | | | | | | | | | | Warrants to purchase common stock | 113,319 | | | — | | | | | | | | | | | | | | Weighted-average shares used in calculating net income (loss) per share, diluted | 53,028,360 | | | 10,312,892 | | | | | | Net income (loss) per share, diluted | $ | 0.34 | | | $ | (0.39) | | | | | |
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| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows for the three months ended March 31, 2026 and 2025: | | | | | | | | | | | | | | | | | Three Months Ended
March 31, | | | | 2026 | | 2025 | | | | | | Redeemable convertible preferred stock | - | | 29,084,235 | | | | | | Outstanding stock options | - | | 6,916,176 | | | | | | Restricted stock awards in exchange for non-recourse note | - | | 700,000 | | | | | | Warrants to purchase common stock | - | | 121,566 | | | | | | Warrants to purchase redeemable convertible preferred stock | - | | 9,660 | | | | | | Unvested early-exercised options | - | | 314 | | | | |
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