| Net Income (Loss) Per Share |
9.Net income (loss) per share The weighted average shares of common stock outstanding used to determine the Company’s net income (loss) per share reflects the following:
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Three months ended |
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Six months ended |
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(amounts in thousands, except number of shares and amount per share) |
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June 30,
2026 |
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June 30,
2025 |
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June 30,
2026 |
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June 30,
2025 |
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Numerator: |
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Net income (loss) |
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$ |
(318 |
) |
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$ |
25,112 |
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$ |
5,803 |
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$ |
17,020 |
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Net income (loss) attributable to noncontrolling interests |
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(622 |
) |
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13,668 |
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1,782 |
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9,253 |
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Series B Preferred Stock dividends |
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(946 |
) |
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— |
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(1,857 |
) |
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— |
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Income allocated to participating Series B Preferred Stock |
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— |
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— |
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(337 |
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— |
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Net income (loss) available to Class A common stockholders |
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(642 |
) |
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11,444 |
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1,827 |
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7,767 |
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Adjustment for dilutive RSUs |
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— |
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— |
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6 |
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— |
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Adjustment for dilutive warrants |
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— |
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— |
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— |
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(1,327 |
) |
Dilutive net income (loss) attributable to Class A common stockholders |
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$ |
(642 |
) |
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$ |
11,444 |
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$ |
1,833 |
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$ |
6,440 |
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Denominator: |
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Weighted average Class A common stock outstanding – basic |
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49,327,318 |
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37,523,324 |
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49,269,329 |
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37,423,300 |
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Adjustment for dilutive RSUs |
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— |
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2,570 |
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258,547 |
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4,334 |
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Adjustment for dilutive warrants |
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— |
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— |
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— |
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93,475 |
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Weighted average Class A common stock outstanding – diluted |
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49,327,318 |
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37,525,894 |
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49,527,876 |
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37,521,109 |
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Net income (loss) per Class A common share – basic: |
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(0.01 |
) |
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0.30 |
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0.04 |
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0.21 |
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Net income (loss) per Class A common share – diluted: |
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(0.01 |
) |
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0.30 |
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0.04 |
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0.17 |
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The following securities were not included in the computation because the effect would be anti-dilutive or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period:
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Three months ended |
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Six months ended |
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June 30,
2026 |
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June 30,
2025 |
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June 30,
2026 |
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June 30,
2025 |
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Class A earnout shares |
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625,000 |
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1,000,000 |
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625,000 |
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1,000,000 |
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Class B earnout shares |
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24,375,000 |
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39,000,000 |
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24,375,000 |
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39,000,000 |
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Series B Preferred Stock shares |
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7,086,960 |
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— |
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7,086,960 |
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— |
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RSUs |
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859,713 |
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929,662 |
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— |
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929,662 |
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Class A shares subject to forfeiture under the deferred settlement agreement |
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360,000 |
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— |
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360,000 |
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— |
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With respect to unvested Class A earnout shares, 375,000 are subject to forfeiture under the deferred settlement agreement. |