| Summary of Changes in Allowance for Credit Losses |
The
following table presents changes in the allowance for credit losses for the year ended December 31, 2025:
Summary of Changes in Allowance for Credit Losses
| | |
| | |
| Balance at December 31, 2025 | |
$ | 41 | |
| Change in provision for credit losses | |
| (15 | ) |
| Balance at March 31, 2026 | |
$ | 26 | |
|
The
following table presents changes in the allowance for credit losses for the year ended December 31, 2025:
Summary of Changes in Allowance for Credit Losses
| |
|
| | |
| Balance - December 31, 2024 |
|
$ | 24,210 | |
| Change in provision for
credit losses |
|
| 17,131 | |
| Balance - December 31, 2025 |
|
$ | 41,341 | |
|
| Schedule of Basic and Diluted Net Loss Per Share |
The
calculation of basic and diluted net loss per share attributable to common stock was as follows:
Schedule of Basic and Diluted Net Loss Per Share
| | |
For the Three Months Ended March 31, | |
| | |
2026 | | |
2025 | |
| Numerator: | |
| | |
| |
| Net loss attributable to common shareholders—basic and diluted | |
$ | (8,417 | ) | |
$ | (3,644 | ) |
| | |
| | | |
| | |
| Denominator: | |
| | | |
| | |
| Weighted average shares—basic and diluted (in thousands) | |
| 720 | | |
| 120 | |
| Net loss per share attributable to common shareholders—basic and diluted | |
$ | (11.69 | ) | |
$ | (30.37 | ) |
|
The
calculation of basic and diluted net loss per share attributable to common stock was as follows:
Schedule of Basic and Diluted Net Loss Per Share
| | |
For
the Year Ended December 31, | |
| | |
2025 | | |
2024 | |
| Numerator: | |
| | | |
| | |
| Net loss attributable to common
shareholders—basic and diluted | |
$ | (22,492,075 | ) | |
$ | (31,095,029 | ) |
| | |
| | | |
| | |
| Denominator: | |
| | | |
| | |
| Weighted average shares—basic and diluted | |
| 189,150 | | |
| 22,291 | |
| Net loss per share attributable to common shareholders—basic
and diluted | |
$ | (118.91 | ) | |
$ | (1,394.94 | ) |
|
| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
Securities
that were excluded from loss per share as their effect would be anti-dilutive due to the net loss that could potentially be dilutive
in future periods are as follows:
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
| | |
As of March 31, | |
| | |
2026 | | |
2025 | |
| Options | |
| 628 | | |
| 128 | |
| RSUs | |
| 26,708 | | |
| 13,039 | |
| Public warrant shares | |
| 1,150 | | |
| 1,150 | |
| GEM warrant shares | |
| 83 | | |
| 83 | |
| Common warrant shares | |
| 100,716 | | |
| 22,638 | |
| Placement agent warrant shares | |
| 14,912 | | |
| 525 | |
| Pre-funded warrants | |
| — | | |
| — | |
| Total | |
| 144,197 | | |
| 37,563 | |
|
Securities
that were excluded from loss per share as their effect would be anti-dilutive due to the net loss that could potentially be dilutive
in future periods are as follows:
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share
| | |
| | |
| |
| | |
As
of December 31, | |
| | |
2025 | | |
2024 | |
| Options | |
| 627 | | |
| 129 | |
| RSUs | |
| 20,695 | | |
| 1,704 | |
| Public warrant shares | |
| 1,150 | | |
| 1,150 | |
| GEM warrant shares | |
| 83 | | |
| 83 | |
| Common warrant shares | |
| 36,800 | | |
| 22,639 | |
| Placement agent warrant shares | |
| 3,591 | | |
| 525 | |
| Pre-funded warrants | |
| — | | |
| — | |
| Total | |
| 62,952 | | |
| 26,230 | |
| Antidilutive Securities | |
| 62,952 | | |
| 26,230 | |
|