The following table shows the computation of basic and diluted net income per common share for the three months ended June 30, 2026 (in thousands, except per share amounts):


	Three Months Ended June 30, 2026
Numerator:
Net income	$	198
Net income - basic and diluted	$	198

Denominator:
Weighted-average shares outstanding - basic and diluted	114,695,987

Net income per common share - basic and diluted	$	—

As discussed in Note 10, Stockholders’ Equity, we determined that our obligation to repurchase shares under the Repurchase Agreement is a liability under ASC 480, Distinguishing Liabilities from Equity. In accordance with ASC 480-10-45-4, all 16,589,531 shares subject to the Repurchase Agreement, including shares not yet repurchased and settled, have been excluded, on a weighted basis, from the weighted-average number of common shares outstanding used to compute basic and diluted income (loss) per share for the three and six months ended June 30, 2026.

The following outstanding potentially dilutive shares have been excluded from the calculation of diluted net loss per share due to their anti-dilutive effect:


	Three and Six Months Ended June 30,
	2026	2025
Options	1,997,466	1,997,466
Unvested restricted stock units	6,506,782	4,167,904
Total	8,504,248	6,165,370