v3.26.1
NET LOSS PER SHARE
6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
NET LOSS PER SHARE
NOTE 18—NET LOSS PER SHARE
The following table sets forth the computation of basic and diluted net loss attributable to Class A and Class B common stockholders per share (in thousands except per share data):

Three Months Ended June 30, 2026Three Months Ended June 30, 2025
Class AClass BClass AClass B
Numerator
Net loss attributable to common stockholders – basic$(11,562)$(1,712)$(2,561)$(387)
Potential dilutive effect of derivative instruments— — — — 
Net loss attributable to common stockholders – diluted$(11,562)$(1,712)$(2,561)$(387)
Denominator
Weighted average shares of common stock outstanding - basic111,159 16,458 108,990 16,458 
Potential dilutive effect of derivative instruments
— — — — 
Weighted average shares of common stock outstanding - diluted111,159 16,458 108,990 16,458 
Net loss attributable to common stockholders per share
Basic$(0.10)$(0.10)$(0.02)$(0.02)
Diluted$(0.10)$(0.10)$(0.02)$(0.02)
Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Class AClass BClass AClass B
Numerator
Net loss attributable to common stockholders – basic$(20,863)$(3,087)$(5,063)$(765)
Potential dilutive effect of derivative instruments— — — — 
Net loss attributable to common stockholders – diluted$(20,863)$(3,087)$(5,063)$(765)
Denominator
Weighted average shares of common stock outstanding - basic111,180 16,458 108,893 16,458 
Potential dilutive effect of derivative instruments
— — — — 
Weighted average shares of common stock outstanding - diluted111,180 16,458 108,893 16,458 
Net loss attributable to common stockholders per share
Basic$(0.19)$(0.19)$(0.05)$(0.05)
Diluted$(0.19)$(0.19)$(0.05)$(0.05)
For the periods presented above, the net loss per share amounts are the same for Class A and Class B common stock because the holders of each class are entitled to equal per share dividends or distributions in liquidation in accordance with the Certificate of Incorporation. The undistributed losses for each period are allocated based on the contractual participation rights of the Class A and Class B common stock as if the losses for the period had been distributed. As the liquidation and dividend rights are identical, the undistributed losses are allocated on a proportionate basis.
The following equity awards outstanding at the end of each period presented have been excluded from the computation of diluted net loss per share of common stock for the periods presented due to their anti-dilutive effect:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Stock options4,458 4,711 4,458 4,711 
Restricted stock units8,244 13,422 8,244 13,422 
Performance stock units
2,250 2,704 2,250 2,704 
Public Warrants— 5,382 — 5,382 
Private Warrants— 3,822 — 3,822 
Earnout Shares— 15,000 — 15,000 
14,952 45,041 14,952 45,041 
On June 21, 2026, all outstanding Warrants expired in accordance with their terms and were automatically cancelled. See Note 10—Accrued and Other Current Liabilities for additional information.
In connection with the Acies Merger, the Company could have been required to issue up to 15 million shares of Class A common stock as earnout consideration to former stockholders of PlayStudios, Inc. (the "Earnout Shares") upon the achievement of certain stock price targets. The earnout period expired on June 21, 2026, five years after the closing of the Acies Merger, without the applicable stock price targets being achieved. As a result, the Company's contingent obligation to issue the Earnout Shares was extinguished, and no shares of Class A common stock were issued in connection with the earnout. The expiration of the Earnout Shares had no impact on the Company's results of operations, financial position, or total stockholders' equity.