As of June 30, 2026, the authorized capital stock of the Company included 10,000,000 shares of $0.00001 par value preferred stock, of which there were no shares issued or outstanding.

As of December 31, 2025, the preferred stock consisted of the following:


					December 31, 2025
	Preferred shares authorized		Preferred shares issued and outstanding			Carrying value		Liquidation preference		Common stock issuable upon conversion
Series A-1 convertible preferred stock		30,000,000		30,000,000		$	294,357,583	$	300,000,000		30,000,000
Series A-2 voting convertible preferred stock		4,968,789		4,968,789			84,500,659		49,687,890		9,477,719
Series A-2 nonvoting convertible preferred stock		708,814		708,814			11,447,346		7,088,140		2,034,133
Total Series A-2 convertible preferred stock		5,677,603		5,677,603			95,948,005		56,776,030		11,511,852
Series B convertible preferred stock		43,084,539		43,084,539			602,057,535		603,183,546		43,084,539
Total		78,762,142		78,762,142		$	992,363,123	$	959,959,576		84,596,391

On April 20, 2026, the Company completed its initial public offering and all outstanding shares of convertible preferred stock were converted into 84,596,391 shares of common stock.