| Schedule of Earnings Per Share, Basic and Diluted |
The following table presents the computation of basic and diluted net loss per share of Class A common stock for the three and six months ended June 30, 2026 and 2025 (in thousands, except share and per share data):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Numerator—basic |
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
$ |
(14,321 |
) |
|
$ |
(263,327 |
) |
|
$ |
(28,952 |
) |
|
$ |
(273,115 |
) |
Less: net loss attributable to redeemable noncontrolling interests |
|
|
— |
|
|
|
123,652 |
|
|
|
— |
|
|
|
127,498 |
|
Net loss attributable to Class A common stockholders—basic |
|
|
(14,321 |
) |
|
|
(139,675 |
) |
|
|
(28,952 |
) |
|
|
(145,617 |
) |
Denominator—basic |
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average Class A common stock outstanding—basic |
|
|
11,049,238 |
|
|
|
6,526,899 |
|
|
|
10,933,116 |
|
|
|
6,585,629 |
|
Net loss per Class A common stock—basic |
|
$ |
(1.30 |
) |
|
$ |
(21.40 |
) |
|
$ |
(2.65 |
) |
|
$ |
(22.11 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Numerator—diluted |
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable to Class A common stockholders—basic |
|
$ |
(14,321 |
) |
|
$ |
(139,675 |
) |
|
$ |
(28,952 |
) |
|
$ |
(145,617 |
) |
Weighted average effect of dilutive securities: |
|
|
|
|
|
|
|
|
|
|
|
|
RSUs |
|
|
— |
|
|
|
(268 |
) |
|
|
— |
|
|
|
— |
|
Redeemable noncontrolling interests |
|
|
— |
|
|
|
(123,583 |
) |
|
|
— |
|
|
|
(127,499 |
) |
Net loss attributable to Class A common stockholders—diluted |
|
|
(14,321 |
) |
|
|
(263,526 |
) |
|
|
(28,952 |
) |
|
|
(273,116 |
) |
Denominator—diluted |
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average Class A common stock outstanding—basic |
|
|
11,049,238 |
|
|
|
6,526,899 |
|
|
|
10,933,116 |
|
|
|
6,585,629 |
|
Weighted average effect of dilutive securities: |
|
|
|
|
|
|
|
|
|
|
|
|
RSUs |
|
|
— |
|
|
|
9,983 |
|
|
|
— |
|
|
|
9,983 |
|
Redeemable noncontrolling interests |
|
|
— |
|
|
|
3,811,250 |
|
|
|
— |
|
|
|
3,811,250 |
|
Weighted average Class A common stock outstanding—diluted |
|
|
11,049,238 |
|
|
|
10,348,132 |
|
|
|
10,933,116 |
|
|
|
10,406,862 |
|
Net loss per Class A common stock—diluted |
|
$ |
(1.30 |
) |
|
$ |
(25.47 |
) |
|
$ |
(2.65 |
) |
|
$ |
(26.24 |
) |
|
| Summary of Potentially Dilutive Securities |
The following table presents the number of shares of common stock issuable under securities that were excluded from the computation of diluted net loss per share of Class A common stock for the three and six months ended June 30, 2026 and 2025 and could potentially dilute earnings per share in the future:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
|
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
RSUs |
|
|
407,244 |
|
|
|
1,069,747 |
|
|
|
407,244 |
|
|
|
72,986 |
|
Stock Options |
|
|
388,181 |
|
|
|
375,603 |
|
|
|
388,181 |
|
|
|
375,603 |
|
Public Warrants |
|
|
338,342 |
|
|
|
338,342 |
|
|
|
338,342 |
|
|
|
338,342 |
|
Private Warrants |
|
|
325,989 |
|
|
|
325,989 |
|
|
|
325,989 |
|
|
|
325,989 |
|
Exercise Warrants |
|
|
1,700,000 |
|
|
|
1,700,000 |
|
|
|
1,700,000 |
|
|
|
1,700,000 |
|
Intermediate Warrants |
|
|
— |
|
|
|
200,000 |
|
|
|
— |
|
|
|
200,000 |
|
Amended Intermediate Warrants |
|
|
200,000 |
|
|
|
— |
|
|
|
200,000 |
|
|
|
— |
|
|