NOTE 9. NET (LOSS) INCOME PER SHARE

The Company’s basic net (loss) income per share is calculated by dividing net (loss) income attributable to ordinary shareholders by the weighted-average number of shares of common stock outstanding for the period, without consideration of potentially dilutive securities. The diluted net (loss) income per share is calculated by giving effect to all potentially dilutive securities outstanding for the period using the treasury stock method or the if-converted method based on the nature of such securities. Diluted net (loss) income per share is the same as basic net (loss) income per share in periods when the effects of potentially dilutive shares of common stock are anti-dilutive.

For the three months ended March 31, 2026, the shares underlying the following were excluded from the calculation of diluted net loss per share since each would have had an anti-dilutive effect: 8,938,904 vested and non-vested stock options outstanding, 6,162,681 non-vested restricted stock units outstanding, 12,757,500 Private Placement Warrants and 20,722,500 Public Warrants to purchase the Company’s common stock.

For the three months ended March 31, 2025, the shares underlying the following were excluded from the calculation of diluted net income per share since each would have had an anti-dilutive effect: 724,423 vested and non-vested stock options outstanding, 11,255 non-vested restricted stock units outstanding, 12,757,500 Private Placement Warrants and 20,722,500 Public Warrants to purchase the Company’s common stock.