The Company computes net income (loss) per share using the two-class method required for participating securities. The two-class method requires income available to common shareholders for the period to be allocated between common stock and participating securities based upon their respective right to receive dividends as if all income for the period had been distributed. The Forest Road Earn-Out Shares are deemed participating securities. These participating securities do not contractually require the holders of such shares to participate in the Company's losses.

Basic income (loss) per common share is computed by dividing net income (loss) available to common shareholders by the weighted average number of common shares outstanding for the period, without considering any dilutive items. The Company applied the two-class method in arriving at basic and diluted income (loss) per common share and in determining diluted income (loss) per common share considering the impact of potentially dilutive securities applying the treasury stock method in arriving at the most dilutive result in arriving at diluted income (loss) per common share. In computing the diluted net income per share, net income is adjusted for the change in fair value of warrant liabilities for warrants that are dilutive.


	Three months ended June 30,						Six months ended June 30,
	2026			2025			2026			2025
Numerator:
Net income (loss)	$	1,384		$	(5,900	)	$	3,670		$	(11,648	)
Less: Income allocated to participating securities under two-class method		14			—			38			—
Less: Tax impact of adjustment (1)		(1	)		—			(1	)
Net income (loss) available to common shareholders - two class method - basic		1,371			(5,900	)		3,633			(11,648	)
Diluted net income (loss) per share:
Less: Change in fair value on Term Loan Warrants		68			—			34			—
Less: Change in fair value on Common Stock Warrants		451			—			—			—
Less: Tax impact of adjustment (1)		(20	)					(1	)
Net income (loss) available to common shareholders - diluted	$	872		$	(5,900	)	$	3,600		$	(11,648	)

Denominator:
Weighted-average common shares outstanding, basic		7,182,414			6,950,761			7,148,294			6,917,062
Dilutive effect of:
RSUs		430,581			—			340,542			—
Options		235,902			—			166,787			—
Term Loan Warrants		44,327			—			40,587			—
Common Stock Warrants		11,379			—			—			—
Weighted-average common shares outstanding, diluted		7,904,603			6,950,761			7,696,210			6,917,062

Net income (loss) per common share, basic	$	0.19		$	(0.85	)	$	0.51		$	(1.68	)
Net income (loss) per common share, diluted	$	0.11		$	(0.85	)	$	0.47		$	(1.68	)

(1) Tax impact calculated using the annual effective tax rate.

Basic net income (loss) per common share is the same as dilutive net income (loss) per common share for the three and six months ended June 30, 2025 as the inclusion of all potential common shares would have been antidilutive in those periods.

The following table presents the common shares as of the end of the respective period that are excluded from the computation of diluted net income (loss) per common share as of the periods presented because including them would have been antidilutive:


	Three months ended June 30,				Six months ended June 30,
	2026		2025		2026		2025

Time-vesting options		499,328		860,500		568,443		860,500
RSUs		444,913		554,766		534,952		554,766
Compensation warrants		79,612		79,612		79,612		79,612
Public and Private Placement Warrants		—		306,667		—		306,667
Term Loan Warrants		53,155		97,482		56,895		97,482
Common Stock Warrants		532,211		543,590		543,590		543,590
Forest Road Earn-out Shares		75,000		75,000		75,000		75,000
ESPP		17,919		—		19,180		—
		1,702,138		2,517,617		1,877,672		2,517,617