The holders of the Company's Class A and Class B common stock have identical liquidation and dividend rights but different voting rights. Accordingly, the Company presents the income (loss) per share for Class A and Class B common stock together. Basic loss per share is computed by dividing net income (loss) by the weighted-average number of shares of the Company's Class A and Class B common stock outstanding. Loss per share for Class B common stock is not presented separately as under the two-class method Class A and Class B loss per share is not meaningfully different.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Basic and diluted income (loss) per share:
Numerator:
Net income (loss)	$	2,867,291	$	(75,175,622)	$	679,081	$	(92,408,146)
Cumulative dividends on preferred stock	—		—		—		4,667,803
Net income (loss) attributable to common stockholders	$	2,867,291	$	(75,175,622)	$	679,081	$	(97,075,949)
Denominator:
Weighted average common stock outstanding, basic1	128,508,173		128,333,356		128,499,931		86,938,585
Effect of dilutive securities:
Dilutive effect of stock options	131,419		—		121,783		—
Dilutive effect of early exercised options	646,132		—		646,132		—
Weighted average common stock outstanding, diluted	129,285,724		128,333,356		129,267,846		86,938,585
Per share:
Net income (loss) per share attributable to common stockholders, basic	$	0.02	$	(0.59)	$	0.01	$	(1.12)
Net income (loss) per share attributable to common stockholders, diluted	$	0.02	$	(0.59)	$	0.01	$	(1.12)

1 Includes 39.2 million and 39.2 million shares of Class A common stock and 89.3 million and 89.1 million shares of Class B common stock, for the three months ended June 30, 2026 and 2025, respectively. Includes 39.2 million and39.2 million shares of Class A common stock and 89.3 million and 89.2 million shares of Class B common stock, for the six months ended June 30, 2026 and 2025, respectively.

The following outstanding potentially dilutive shares were excluded from the computation of diluted net income (loss) per share attributable to common stock for the periods presented because the impact of including them would have been anti-dilutive:


	Three Months Ended June 30,		Six Months Ended June 30,
	2026	2025	2026	2025
Warrants	1,933,333	1,933,333	1,933,333	1,933,333
Stock options	3,161,383	4,095,133	3,171,019	4,095,133
Unvested early exercised options	—	530,108	—	530,108
Total	5,094,716	6,558,574	5,104,352	6,558,574