Three Months Ended March 31,

2026

2025

Numerator:

Net loss

$

(13,372

)

$

(23,047

)

Less: Net loss attributable to redeemable noncontrolling interests

(7,899

)

(17,558

)

Less: Net income (loss) attributable to noncontrolling interests

1,030

(40

)

Add: Series A Preferred Dividends

(1,429

)

(1,007

)

Add: Series B Preferred Dividends

—

(992

)

Basic Net loss attributable to common stockholders

$

(7,932

)

$

(7,448

)

Denominator:

Weighted Average Class A Common Stock outstanding

38,364,539

18,732,919

Weighted Average Class A Common Stock issuable under Series A Penny Warrants

1,508,883

1,282,742

Weighted Average Class A Common Stock issuable under Series B Penny Warrants

6,268,100

5,140,900

Weighted Average Shares Outstanding - basic and diluted

46,141,522

25,156,561

Basic and Diluted Earnings (Loss) Per Share

Basic

$

(0.17

)

$

(0.30

)

Diluted

$

(0.17

)

$

(0.30

)