| Schedule of Basic and Diluted Net Income Per Share |
Basic and diluted net income (loss) per share were calculated as follows for the periods presented (in thousands, except share and per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Numerator: | | | | | | | | | | Net Income (Loss) | | $ | 6,381 | | | (57,727) | | | $ | 71,032 | | | $ | (7,352) | | | Plus: Return on Share Purchase and Forfeiture | | 355 | | | — | | | 355 | | | — | | | Less: Net Income Allocated to Participating Securities | | (5,356) | | | — | | | (54,653) | | | — | | | Net Income (Loss) Attributable to Common Stockholders | | $ | 1,380 | | | $ | (57,727) | | | $ | 16,734 | | | $ | (7,352) | | | Denominator: | | | | | | | | | | Weighted average shares used in computing basic net income (loss) per share | | 78,924,011 | | | 77,698,227 | | | 78,589,166 | | | 77,603,124 | | | Effect of dilutive securities: | | | | | | | | | | Stock options | | 49,917,681 | | | — | | | 52,542,572 | | | — | | | Common stock warrants | | 111,765 | | | — | | | 284,572 | | | — | | | Convertible preferred stock warrants | | 56,230,169 | | | — | | | 105,875,709 | | | — | | | Weighted-average shares used in computing diluted net income (loss) per share | | 185,183,626 | | | 77,698,227 | | | 237,292,019 | | | 77,603,124 | | | Net Income (Loss) Per Share – Basic | | $ | 0.02 | | | $ | (0.74) | | | $ | 0.21 | | | $ | (0.09) | | | Net Income (Loss) Per Share – Diluted | | $ | 0.01 | | | $ | (0.74) | | | $ | 0.07 | | | $ | (0.09) | |
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| Schedule of Dilutive Shares Excluded from the Diluted Net Income (Loss) Per Share Calculation |
The following common stock equivalents were excluded from the computation of diluted net income (loss) per share for the periods presented because including them would have been anti-dilutive: | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2026 | | 2025 | | 2026 | 2025 | | | (shares) | | (shares) | | (shares) | (shares) | | Excluded securities: | | | | | | | | | Convertible preferred stock issued and outstanding, excluding shares held by consolidated VIE | | 315,222,140 | | | 158,365,655 | | | 265,665,203 | | 158,365,655 | | | Stock options issued and outstanding | | 27,484,623 | | | 80,099,705 | | | 24,462,457 | | 79,467,722 | | | Common stock warrants issued and outstanding | | 89,763 | | | 330,163 | | | 167,475 | | 330,163 | | | Series E-1 convertible preferred stock warrants | | — | | | 35,544,141 | | | — | | 35,544,141 | | | Series F convertible preferred stock warrants | | — | | | 177,720,704 | | | — | | 177,720,704 | | Total common stock equivalents excluded from diluted net income (loss) per common share computation | | 342,796,526 | | | 452,060,368 | | | 290,295,135 | | 451,428,385 | |
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