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<div>NOTE 1 — Basis of Presentation </div><div style="margin-bottom:12pt;margin-top:6pt">The accompanying unaudited condensed consolidated financial statements of Teamshares Inc. and its subsidiaries (“Teamshares” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with Article 10 of Regulation S-X. In the opinion of management, the condensed consolidated financial statements include all of the adjustments necessary for a fair statement in conformity with U.S. GAAP. Certain reclassifications have been made to prior year financial statements to conform to classifications used in the current year. </div><div>On June 18, 2026, Live Oak consummated a business combination with Legacy Teamshares, as further described under “Merger and Reverse Recapitalization” below. Unless otherwise noted or the context otherwise requires, references to the “Company,” “Teamshares,” “we,” “us,” or “our” refer to the business of Legacy Teamshares and its subsidiaries prior to the consummation of the business combination and, after the consummation of the business combination, to Teamshares Inc. and its subsidiaries.</div><div style="margin-bottom:12pt;margin-top:12pt">Operating results for interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole. The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Actual results could differ from those estimates. </div><div style="margin-bottom:12pt;margin-top:12pt">The accompanying unaudited condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, and entities for which the Company has a controlling financial interest. Intercompany transactions and balances have been eliminated in consolidation. Unless otherwise noted, amounts are reported in thousands within this Quarterly Report, and therefore, certain columns and rows within tables in this report may not sum due to rounding. </div><div style="margin-bottom:12pt">The accompanying unaudited condensed consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements of the Company for the fiscal year ended December 31, 2025 in the Proxy Statement/Prospectus. </div><div style="margin-bottom:12pt">There have been no material changes to the Company’s significant accounting policies, as disclosed in Note 2 of the audited consolidated financial statements of the Company for the fiscal year ended December 31, 2025 in the Proxy Statement/Prospectus, except as described in Notes 3, 11, and 13. </div><div style="margin-bottom:12pt">As of June 30, 2026, Teamshares had 93 active Operating Subsidiaries (as defined in Note 1 of the audited consolidated financial statements of the Company for the fiscal year ended December 31, 2025 in the Proxy Statement/Prospectus), 90 of which are located in the United States and 3 of which are located outside of the United States. </div><div style="margin-top:18pt">Going Concern </div><div style="margin-bottom:12pt;margin-top:6pt">These condensed consolidated financial statements have been prepared in accordance with U.S. GAAP assuming the Company will continue as a going concern, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. For the three and six months ended June 30, 2026 and the year ended December 31, 2025, the Company has incurred negative cash flows from operations due to corporate overhead and interest expense exceeding cash flows from Operating Subsidiaries. Based on current conditions that assume no additional acquisitions, refinancing of indebtedness, or other actions to improve liquidity or reduce expenditures, additional losses are expected for the next 12 months after the financial statements are available to be issued. Furthermore, the Company has debt of $187.8 million that will mature within the next 12 months after the financial statements are available to be issued, and the Company’s existing liquidity and forecasted cash flows are not sufficient to repay this debt. As a result, substantial doubt exists about the Company’s ability to continue as a going concern. </div><div style="margin-bottom:6pt;margin-top:12pt">Management’s plans to alleviate these conditions include, but are not limited to, the refinancing certain of its indebtedness, including the i80 Facility (see Note 10) that matures in December 2026. Teamshares continues to evaluate debt refinancing alternatives and expects to pursue a solution that strengthens its balance sheet and supports its long-term growth strategy. </div><div style="margin-bottom:6pt;margin-top:12pt">The Company has received several non-binding term sheets from lenders to refinance a significant portion of its existing indebtedness. The non-binding term sheets remain subject to definitive documentation and customary closing conditions, and there can be no assurance that any of these alternatives will be consummated on the contemplated terms or at all. Additionally, the Company may seek to raise additional capital through public or private issuances of equity or equity-linked securities. Any future equity issuances would be subject to market conditions, the availability and cost of capital and other relevant considerations. Although management is pursuing these plans, there can be no assurance they will be successfully implemented or that they will be able to mitigate the substantial doubt regarding its ability to continue as a going concern. </div><div style="margin-bottom:12pt;margin-top:12pt">The condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty, such as adjustments relating to the recoverability and classification of recorded asset amounts or the amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. </div><div style="margin-bottom:12pt">Merger and Reverse Recapitalization</div><div style="margin-bottom:12pt">On November 14, 2025, the Company entered into an agreement and plan of merger (as amended, the “Merger Agreement”) with Live Oak, Live Oak Sponsor V LLC, Catalyst Sub Inc. (“Merger Sub”), and Catalyst Sub 2 LLC (“Merger Sub II”). Live Oak was a publicly traded special purpose acquisition company (“SPAC”).</div><div style="margin-bottom:12pt">On June 18, 2026 (the “Closing Date”), as contemplated by the Merger Agreement, Live Oak, Merger Sub, Merger Sub II, and Legacy Teamshares consummated the transactions contemplated by the Merger Agreement and its related agreements (the “Closing”), culminating in (i) Live Oak de-registering from the Register of Companies in the Cayman Islands and transferring by way of continuation out of the Cayman Islands and into the State of Delaware so as to become a Delaware corporation (the “Domestication”), (ii) Merger Sub merging with and into Legacy Teamshares, with Legacy Teamshares continuing as the surviving corporation (the “Surviving Corporation”) as a wholly-owned subsidiary of Live Oak, and (iii) immediately thereafter, the Surviving Corporation merging with and into Merger Sub II, with Merger Sub II continuing as the surviving entity and as a wholly-owned subsidiary of Live Oak (collectively the “SPAC Merger”). On the Closing Date, Live Oak filed a certificate of incorporation and a certificate of corporate domestication with the Secretary of State of the State of Delaware, pursuant to which Live Oak was domesticated and continues as a Delaware corporation, and effective upon the Closing, changing its name to “Teamshares Inc.” (the “Company”).</div><div style="margin-bottom:12pt">Pursuant to the Merger Agreement, the aggregate merger consideration paid to the holders of securities of Legacy Teamshares was $525.0 million, paid in newly issued shares of the combined company (“Company Common Stock”) and options to purchase shares of the Company, valued at $10.00 per share. Upon the Closing, all of the issued and outstanding Legacy Teamshares Common Stock and Legacy Teamshares Preferred Stock were automatically cancelled and ceased to exist in exchange for the rights of each holder to receive its pro rata share of merger consideration. Beginning on June 23, 2026, the Company Common Stock and warrants trade on Nasdaq under the ticker symbols “TMS” and “TMSWW”, respectively.</div><div>See Note 3 for disclosure of the transactions that occurred in anticipation of the SPAC Merger and upon the Closing.</div><div> </div><div style="margin-bottom:12pt">Accounting for the SPAC Merger</div><div style="margin-bottom:12pt">The SPAC Merger was accounted for as a reverse recapitalization in accordance with GAAP. Under this method of accounting, Live Oak was treated as the “acquired” company and Legacy Teamshares was treated as the accounting acquirer for financial statement reporting purposes. Accordingly, the SPAC Merger is being treated as the equivalent of Legacy Teamshares issuing stock for the net assets of Live Oak, accompanied by a recapitalization. The net assets of Live Oak will be stated at historical cost, with no goodwill or other intangible assets recorded. Operations prior to the SPAC Merger will be presented as those of Legacy Teamshares.</div><div style="margin-bottom:12pt"> </div><div style="margin-bottom:12pt">Emerging Growth Company Status</div><div style="margin-bottom:12pt">The Company is an emerging growth company, as defined in Section 2(a) of the Securities Act of 1933, as amended (the “Securities Act”), as modified by the Jumpstart Our Business Startups Act of 2012 (“JOBS Act”). The Company may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in our periodic reports and proxy statements, and exemptions from the requirements of holding a non-binding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.</div><div style="margin-bottom:12pt">Under the JOBS Act, emerging growth companies can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act, until such time as those standards apply to private companies. The Company has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that we (i) are no longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in the JOBS Act. As a result, these condensed consolidated financial statements may not be comparable to companies that comply with the new or revised accounting pronouncements as of public company effective dates.</div>

<div style="margin-bottom:12pt;margin-top:6pt">The accompanying unaudited condensed consolidated financial statements of Teamshares Inc. and its subsidiaries (“Teamshares” or the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with Article 10 of Regulation S-X. In the opinion of management, the condensed consolidated financial statements include all of the adjustments necessary for a fair statement in conformity with U.S. GAAP. Certain reclassifications have been made to prior year financial statements to conform to classifications used in the current year. </div><div>On June 18, 2026, Live Oak consummated a business combination with Legacy Teamshares, as further described under “Merger and Reverse Recapitalization” below. Unless otherwise noted or the context otherwise requires, references to the “Company,” “Teamshares,” “we,” “us,” or “our” refer to the business of Legacy Teamshares and its subsidiaries prior to the consummation of the business combination and, after the consummation of the business combination, to Teamshares Inc. and its subsidiaries.</div>Operating results for interim periods are not necessarily indicative of results that may be expected for the fiscal year as a whole. The preparation of the financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses, and the related disclosures at the date of the financial statements and during the reporting period. Actual results could differ from those estimates.

The accompanying unaudited condensed consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, and entities for which the Company has a controlling financial interest. Intercompany transactions and balances have been eliminated in consolidation. Unless otherwise noted, amounts are reported in thousands within this Quarterly Report, and therefore, certain columns and rows within tables in this report may not sum due to rounding.

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525000000.0 10.00

<div style="margin-top:18pt">NOTE 2 — New Accounting Pronouncements</div>New Accounting Pronouncement Not Adopted as of December 31, 2025: In December 2023, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2023-09, Improvements to Income Tax Disclosures, which intends to provide investors with enhanced information about an entity’s income taxes by requiring disclosure of items such as disaggregation of the effective tax rate reconciliation as well as information regarding income taxes paid. This ASU is effective for annual reporting periods beginning after December 15, 2025, and will result in additional disclosures beginning with the Company’s 2026 annual reporting.

New Accounting Pronouncement Not Adopted as of December 31, 2025: In December 2023, the Financial Accounting Standards Board issued Accounting Standards Update (“ASU”) 2023-09, Improvements to Income Tax Disclosures, which intends to provide investors with enhanced information about an entity’s income taxes by requiring disclosure of items such as disaggregation of the effective tax rate reconciliation as well as information regarding income taxes paid. This ASU is effective for annual reporting periods beginning after December 15, 2025, and will result in additional disclosures beginning with the Company’s 2026 annual reporting.

<div>NOTE 3 — Reverse Recapitalization</div><div> </div><div>In anticipation of the SPAC Merger, the following transactions occurred prior to the Closing:</div><div> </div><div style="padding-left:36pt;text-indent:-18pt">1.On November 14, 2025, Live Oak entered into subscription agreements with certain investors (the “Initial PIPE Investors”) pursuant to which the Initial PIPE Investors agreed to purchase 13,749,994 Live Oak common shares for aggregate proceeds of approximately $126.5 million, in a transaction to be consummated concurrently with the Closing;</div><div> </div><div style="padding-left:36pt;text-indent:-18pt">2.The Sponsor designated 1,150,000 Live Oak Class B Ordinary Shares as incentive founder shares (“Incentive Founder Shares”) that were eligible to be used to incentivize commitments from investors. Based on the terms of the Merger Agreement, 50% of unutilized Incentive Founder Shares were forfeited upon the Closing, and 50% of unutilized Incentive Founder Shares are converted to Deferred Founder Shares (as defined below). Utilized Incentive Founder Shares were converted to Company Common Stock upon the Closing; </div><div> </div><div style="padding-left:36pt;text-indent:-18pt">3.During the period between December 2025 and May 2026 Legacy Teamshares entered into Simple Agreements for Future Equity (“SAFE Notes”) for aggregate proceeds of approximately $6.3 million. Refer to Note 11.</div><div> </div><div style="padding-left:36pt;text-indent:-18pt">4.Live Oak entered into non-redemption agreements (the “Non-Redemption Agreements”), dated as of June 5, 2026, with unaffiliated third-party stockholders of Live Oak (the “NRA Investors”). Pursuant to the Non-Redemption Agreements, the NRA Investors agreed not to redeem an aggregate of 276,646 common shares of Live Oak. In exchange for the NRA Investors’ commitment to not redeem these shares, Live Oak agreed to transfer to the NRA Investors, contemporaneously with the Closing, an aggregate of 37,136 Incentive Founder Shares;</div><div> </div><div style="padding-left:36pt;text-indent:-18pt">5.On June 1, 2026, Live Oak entered into an agreement (the “Forward Purchase Agreement”) with a fund sub-advised by JBA Asset Management LLC (the “FPA Investor”) for an over-the-counter equity prepaid forward transaction. Pursuant to the terms of the Forward Purchase Agreement, the FPA Investor purchased 4,000,000 shares of Live Oak common stock (the “FPA Shares”) on the open market prior to the Closing. The 4,000,000 shares were not redeemed pursuant to the terms of the Forward Purchase Agreement, and were subsequently converted into Company Common Stock upon the Closing. Upon consummation of the SPAC Merger, a portion </div><div style="padding-left:36pt">of the funds remaining in the trust account established by Live Oak at the time of Live Oak’s initial public offering (the “Live Oak Trust Account”) were used to make a $42.2 million payment (the “Prepayment Amount”) to the FPA Investor. The substance of the Prepayment Amount is akin to a subscription receivable for Company Common Stock, and therefore the payment of the Prepayment Amount has been presented as a reduction of Additional Paid-In Capital. Refer to Note 11.</div><div> </div><div>As a result of the SPAC Merger, and upon the Closing, pursuant to the terms of the Merger Agreement:</div><div> </div><div style="padding-left:36pt;text-indent:-18pt">1.All of the issued and outstanding Legacy Teamshares Common Stock were automatically cancelled and ceased to exist, in exchange for the rights of each holder to receive shares of Company Common Stock at an exchange ratio of approximately 4.510 (the “Exchange Ratio”);</div><div> </div><div style="padding-left:36pt;text-indent:-18pt">2.All 3,450,000 shares of Live Oak Class B shares were converted into Live Oak Class B common stock pursuant to the Domestication and subsequently converted into Company Common Stock at a one-to-one ratio;</div><div> </div><div style="padding-left:36pt;text-indent:-18pt">3.All of the issued and outstanding shares of Legacy Teamshares Series Seed-1 Preferred Stock, Series Seed-2 Preferred Stock, Series Seed-AA Preferred Stock, Series A Preferred Stock, Series B-1 Preferred Stock, Series B-2 Preferred Stock, Series C-2 Preferred Stock, and holders of 1,538,481 shares of Legacy Teamshares Series C-1 Preferred Stock were automatically cancelled and ceased to exist, in exchange for the rights of each holder to receive shares of Legacy Teamshares Common Stock at a one-to-one ratio. The Legacy Teamshares Common Stock was subsequently converted to Company Common Stock at the Exchange Ratio;</div><div> </div><div style="padding-left:36pt;text-indent:-18pt">4.All of the holders of Legacy Teamshares Series D-1 Preferred Stock, Series D-2 Preferred Stock, Series D-NV Preferred Stock, Series E-1 Preferred Stock, Series E-NV Preferred Stock and holders of 371,357 shares of Legacy Teamshares Series C-1 Preferred Stock made liquidation preference elections to convert their Legacy Teamshares Preferred Stock into a number of shares of Legacy Teamshares Common Stock determined based on the original issue price of the holder’s Legacy Teamshares Preferred Shares. Based on the liquidation preference elections, an aggregate of 5,171,149 additional shares of Legacy Teamshares Common Stock, representing a liquidation preference of $233.2 million, were issued to liquidation preference electing holders (“Liquidation Preference Electing Holders”). The Legacy Teamshares Common Stock was subsequently converted to Company Common Stock at the Exchange Ratio. Liquidation Preference Electing Holders agreed to forfeit participation in any Earnout Shares;</div><div> </div><div style="padding-left:36pt;text-indent:-18pt">5.All outstanding options to purchase equity securities of Legacy Teamshares, whether vested or unvested, were assumed by the Company and replaced with options to purchase Company Common Stock (“Assumed Options”), subject to equitable adjustments to the exercise prices and number of shares for which such Assumed Options are exercisable. See Note 13;</div><div> </div><div style="padding-left:36pt;text-indent:-18pt">6.All SAFE Notes issued by Legacy Teamshares were automatically converted into 688,043 shares of Company Common Stock. See Note 11. An additional 63,300 Incentive Founder Shares were delivered to holders of SAFE Notes upon the Closing;</div><div> </div><div style="padding-left:36pt;text-indent:-18pt">7.Holders of 77,258 Series B Warrants issued by Legacy Teamshares exercised their option to convert their Series B Warrants into 48,990 shares of Legacy Teamshares Common Stock. See Note 11. The Legacy Teamshares Common Stock was subsequently converted to Company Common Stock at the Exchange Ratio;</div><div> </div><div style="padding-left:36pt;text-indent:-18pt">8.All Series C, Series D, and Series E Warrants issued by Legacy Teamshares were terminated and did not receive any consideration in connection with the SPAC Merger because these warrants were out-of-the-money at the Closing. See Note 11;</div><div> </div><div style="padding-left:36pt;text-indent:-18pt">9.Certain former Legacy Teamshares security holders have the contingent right to receive up to 6,000,000 additional shares of Company Common Stock (“Earnout Shares”) during a five-year earnout period (the “Earnout Period”) in three equal tranches vesting upon the volume weighted average price (“VWAP”) of Company Common Stock equaling or exceeding $12.00, $15.00 and $20.00, respectively, for 20 of any 30 consecutive trading days commencing at least 150 days after the Closing Date (or upon a qualifying change of control at an implied price at or above $12.00) (“Earnout Share Triggering Event(s)”). See Note 11. </div><div style="padding-left:36pt">Employees of the Company that are entitled to receive Earnout Shares must remain continuously employed from the Closing Date through immediately before an Earnout Share Triggering Event. Due to the continuous employment requirements, Earnout Shares reserved for employees of the Company are classified as equity and recognized in accordance with ASC 718 - Compensation-Stock Compensation. See Note 13. Earnout Shares assigned to Legacy Teamshares stockholders that are not employees of the Company are classified as liabilities. See Note 11.</div><div> </div><div style="padding-left:36pt;text-indent:-18pt">10.The Sponsor was issued 1,674,781 additional shares of Company Common Stock (“Deferred Founder Shares”) that are subject to vesting and forfeiture during a five-year period (the “Founder Share Earnout Period”). The Deferred Founder Shares will vest and cease to be subject to forfeiture upon the VWAP of Company Common Stock equaling or exceeding $12.00 and $15.00, respectively, for 20 of any 30 consecutive trading days commencing at least 150 days after the Closing Date (or upon a qualifying change of control at an implied price at or above $12.00). Despite the Deferred Founder Shares being issued upon the Closing, the Deferred Founder Shares are economically similar to an earnout arrangement due to the forfeiture provision, and are therefore classified as liabilities. See Note 11.</div><div> </div><div style="padding-left:36pt;text-indent:-18pt">11.Live Oak’s 11,500,000 public warrants and 4,500,000 private warrants (collectively, the “Assumed Warrants”) that were outstanding immediately prior to the Closing became warrants of the Company. Each Assumed Warrant entitles the holder to purchase one share of Company Common Stock at an exercise price of $11.50 per share. The terms of the public warrants and the private warrants are identical, except that the private warrants will not be transferable, assignable or saleable until 30 days after the Closing, except, among other limited exceptions, to Live Oak’s officers and directors and other persons or entities affiliated with the Sponsor. After the expiration of the aforementioned post-Closing transfer restrictions, the terms of the public warrants and the private warrants are identical.</div><div> </div><div style="padding-left:36pt">The Assumed Warrants are exercisable 30 days after the completion of the SPAC Merger and expire five years thereafter (the “Exercise Period”). The Company may redeem all outstanding Assumed Warrants at $0.01 per warrant if the sales price of Company Common Stock for any 20 trading days within a 30 trading-day measurement period equals or exceeds $18.00 per share during the Exercise Period. The Company can elect to require cashless exercise if the Assumed Warrants are exercised pursuant to a redemption notice whereby the holder will receive a number of Company Common Stock equal to: (i) the number of Company Common Stock underlying the Warrants, multiplied by the excess of fair market value of the Company Common Stock over the exercise price, divided by (ii) fair market value of the Company Common Stock. Fair market value is determined based on the average reported closing price of the Company Common Stock during the 10-trading-day period ending on the three trading days before the receipt of an exercise notice. The Assumed Warrants contain anti-dilution protections that may adjust either the exercise price or the number of shares issuable upon the exercise of each Assumed Warrant if certain events occur. The Company may reduce the exercise price before the expiration date in its sole discretion.</div><div style="padding-left:36pt"> </div><div style="margin-bottom:12pt;padding-left:36pt">The Assumed Warrants meet all of the requirements for equity classification under ASC 815 and therefore were classified as equity. </div><div> </div><div>The following table summarizes the net proceeds from the merger (dollars in thousands):</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:78.293%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.901%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Sources</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Amount</td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Cash - Live Oak Trust Account</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">48,149 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Cash - Live Oak operating account</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">741 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Total cash from Live Oak</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">48,890 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Cash - PIPE</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">126,500</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Live Oak transaction and advisory costs paid from the Live Oak Trust Account</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15,903)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Net cash proceeds from the SPAC Merger</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">159,487 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:78.293%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.901%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Uses</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Amount</td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Repayment of the HBC Credit Facility</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(33,850)</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Payment of the Prepayment Amount to the FPA Investor</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(42,240)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Total cash used immediately after the SPAC Merger</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(76,090)</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Net cash to Teamshares</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">83,397 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div> </div><div>The following table summarizes the impact of the SPAC Merger on the Company Common Stock (dollars in thousands except shares and par values):</div><div> </div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:47.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.053%"></td><td style="width:0.1%"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Common Stock</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Additional Paid -in Capital</td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Number of Shares</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Amount</td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Balance as of March 31, 2026</td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,174,429 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">328,629 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Exercise of stock options prior to the SPAC Merger</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">7,488 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">10 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Conversion of Legacy Teamshares Preferred Stock into Legacy Teamshares Common Stock, adjusted for liquidation preferences</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,730,177 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">97 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(4)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Conversion of Legacy Teamshares Series B Warrants to Legacy Teamshares Common Stock</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">48,990 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,501 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Balance immediately prior to the SPAC Merger</td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,961,084 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">110 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Exchange Ratio</td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right">4.510x</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Company Common Stock Issued to Legacy Teamshares Stockholders</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">49,435,651 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,944 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(1)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Merger and PIPE Financing, net (1) (2)</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">18,311,605 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,831 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">112,871 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Conversion of Live Oak Class B Common Stock</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,450,000 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">345 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Conversion of SAFE Notes and Issuance of Sponsor Incentive Shares to SAFE Investors</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">751,343 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">75 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,505 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Issuance of Sponsor Incentive Shares to NRA Investors</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">37,136 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Balance immediately after the SPAC Merger (3)</td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">71,985,735 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">7,199 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">452,511 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div> </div><div style="padding-left:18pt;text-indent:-18pt">(1)Includes 4,000,000 FPA Shares held by the FPA Investor that were converted to Company Common Stock at the Closing.</div><div style="padding-left:18pt;text-indent:-18pt">(2)The balance recorded in Additional Paid-in Capital is net of $4.7 million of costs incurred by the Company that were directly attributable to the SPAC Merger. Directly attributable transaction costs consisted primarily of legal and accounting costs that were direct and incremental to the SPAC Merger. $1.1 million of directly attributable transaction costs were paid during the three months ended June 30, 2026, and $3.6 million directly attributable transaction costs were included in Accounts Payable as of June 30, 2026.</div>(3)Refer to the Condensed Consolidated Statements of Stockholders’ Equity for complete list of transactions that impacted Additional Paid-In Capital during the three months ended June 30, 2026

13749994

126500000

1150000 0.50 0.50

6300000

276646

37136

4000000

42200000 0.04510

3450000

1 1538481 1 371357

5171149

233200000

688043

63300

77258

48990

6000000 P5Y 12.00 15.00 20.00 20 30 P150D 12.00 1674781 P5Y 12.00 15.00 20 30 P150D 12.00

11500000

4500000

11.50

P30D P30D P5Y 0.01 20 30 18.00 P10D <div>The following table summarizes the net proceeds from the merger (dollars in thousands):</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:78.293%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.901%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Sources</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Amount</td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Cash - Live Oak Trust Account</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">48,149 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Cash - Live Oak operating account</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">741 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Total cash from Live Oak</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">48,890 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Cash - PIPE</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">126,500</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Live Oak transaction and advisory costs paid from the Live Oak Trust Account</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15,903)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Net cash proceeds from the SPAC Merger</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">159,487 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:78.293%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.901%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Uses</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Amount</td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Repayment of the HBC Credit Facility</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(33,850)</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Payment of the Prepayment Amount to the FPA Investor</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(42,240)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Total cash used immediately after the SPAC Merger</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(76,090)</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Net cash to Teamshares</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">83,397 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div> </div><div>The following table summarizes the impact of the SPAC Merger on the Company Common Stock (dollars in thousands except shares and par values):</div><div> </div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:47.384%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.051%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.053%"></td><td style="width:0.1%"></td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Common Stock</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" rowspan="2" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Additional Paid -in Capital</td></tr><tr style="height:14pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Number of Shares</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Amount</td><td colspan="3" style="padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Balance as of March 31, 2026</td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,174,429 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">328,629 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Exercise of stock options prior to the SPAC Merger</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">7,488 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">10 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Conversion of Legacy Teamshares Preferred Stock into Legacy Teamshares Common Stock, adjusted for liquidation preferences</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,730,177 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">97 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(4)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Conversion of Legacy Teamshares Series B Warrants to Legacy Teamshares Common Stock</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">48,990 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,501 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Balance immediately prior to the SPAC Merger</td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,961,084 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">110 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Exchange Ratio</td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:right">4.510x</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Company Common Stock Issued to Legacy Teamshares Stockholders</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">49,435,651 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,944 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(1)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Merger and PIPE Financing, net (1) (2)</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">18,311,605 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,831 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">112,871 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Conversion of Live Oak Class B Common Stock</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,450,000 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">345 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Conversion of SAFE Notes and Issuance of Sponsor Incentive Shares to SAFE Investors</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">751,343 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">75 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,505 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 7pt;text-align:left;vertical-align:bottom">Issuance of Sponsor Incentive Shares to NRA Investors</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">37,136 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Balance immediately after the SPAC Merger (3)</td><td colspan="2" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">71,985,735 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">7,199 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">452,511 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div> </div><div style="padding-left:18pt;text-indent:-18pt">(1)Includes 4,000,000 FPA Shares held by the FPA Investor that were converted to Company Common Stock at the Closing.</div><div style="padding-left:18pt;text-indent:-18pt">(2)The balance recorded in Additional Paid-in Capital is net of $4.7 million of costs incurred by the Company that were directly attributable to the SPAC Merger. Directly attributable transaction costs consisted primarily of legal and accounting costs that were direct and incremental to the SPAC Merger. $1.1 million of directly attributable transaction costs were paid during the three months ended June 30, 2026, and $3.6 million directly attributable transaction costs were included in Accounts Payable as of June 30, 2026.</div>(3)Refer to the Condensed Consolidated Statements of Stockholders’ Equity for complete list of transactions that impacted Additional Paid-In Capital during the three months ended June 30, 2026 48149000 741000 48890000

126500000

15903000 159487000

33850000

42240000 76090000 83397000

1174429

328629000

7488

10000

9730177

-4000

48990

2501000

10961084

110

0.04510

49435651

4944

-1000

18311605 1831 112871000

3450000

345

751343

8505000

37136

71985735

7199

452511000

4000000

4700000 1100000 3600000

<div style="margin-top:18pt">NOTE 4 — Revenue</div><div style="margin-bottom:12pt;margin-top:6pt">The Operating Subsidiaries operate in a variety of industries and generate revenue from the sale of a diverse mix of product and service offerings. Operating Subsidiaries are not concentrated in a specific industry or geographical region. The Company disaggregates its revenue between sales of products and sales of services in the Condensed Consolidated Statements of Operations. There are no material extended payment terms extended to Operating Subsidiary customers. </div><div style="margin-bottom:12pt">At times, the Company has a right to payment from previous performance that is conditional on something other than the passage of time, such as billings that are contingent on work completed by others, and certain unbilled receivables, which are recognized as Contract Assets. Contract Assets were $2.3 million and $1.8 million as of June 30, 2026 and </div><div style="margin-bottom:12pt">December 31, 2025, respectively, and are included in Accounts Receivable, Net on the Condensed Consolidated Balance Sheets. </div>Contract liabilities consist of payments received from customers in advance of the Company providing the product or performing services such that control has not passed to the customer. Contract liabilities were $13.2 million and $10.1 million as of June 30, 2026 and December 31, 2025, respectively, and are included in Deferred Revenue on the Condensed Consolidated Balance Sheets. During the six months ended June 30, 2026, the Company recognized $7.6 million of revenue that was included in deferred revenue as of December 31, 2025.

2300000

1800000

13200000

10100000

7600000

<div style="margin-top:18pt">NOTE 5 — Business Combinations</div><div style="margin-bottom:12pt;margin-top:6pt">During the six months ended June 30, 2026, the Company completed two business combinations. The business combinations were individually insignificant acquisitions of Operating Subsidiaries in the United States. </div><div style="margin-bottom:12pt;margin-top:12pt">The Company accounts for business combinations using the acquisition method, and accordingly, the consideration paid for each business combination has been allocated based upon the fair value of the assets acquired and liabilities assumed in the business combination. </div><div style="margin-bottom:12pt">The following table summarizes the estimated acquisition date fair values of the aggregate assets acquired and liabilities assumed for the six months ended June 30, 2026: </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Consideration:</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Cash</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">6,386 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Seller Notes at fair value</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,689 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Contingent consideration</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">372 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 48.37pt;text-align:left;text-indent:-5.76pt;vertical-align:top">Total consideration transferred</td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,447 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Fair value of assets acquired and liabilities assumed:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Cash and cash equivalents</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,319 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Accounts receivable</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">210 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Inventory</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">7,323 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Prepaid expenses & other assets</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Trade names</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">806 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Property, plant, and equipment</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,136 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Right of use assets</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,206 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Accounts payable & accrued liabilities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(755)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Lease liabilities</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,906)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 48.37pt;text-align:left;text-indent:-5.76pt;vertical-align:top">Total identifiable assets acquired, net</td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,340 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 53pt;text-align:left;text-indent:-10pt;vertical-align:top">Goodwill</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">3,107 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt">Seller Notes are a form of noncash consideration paid to the sellers of certain businesses, and are therefore disclosed as non-cash investing activities in the Condensed Consolidated Statements of Cash Flows. See Note 10. The principal balance of the Seller Notes included in the table above was $11.0 million. </div><div style="margin-bottom:12pt">The Company determined that the assets acquired in one of the business combinations that was completed during the six months ended June 30, 2026 included two real estate leases with annual rents that were favorable relative to market terms as of the acquisition date. The acquired leases are classified as operating leases, and the Company initially measured the lease liabilities based on the present value of the remaining lease payments, as if the acquired leases were new leases of the Company at the acquisition date. The Company measured the ROU assets as the amount of the lease liabilities adjusted to reflect the favorable terms of the leases when compared with market terms. The Company estimates the fair value of the </div><div style="margin-bottom:12pt">favorable lease terms as of the acquisition date using an income approach based on the present value of the difference between market rent and contractual rent over the remaining lease term, discounted at the Company’s incremental borrowing rate as of the acquisition date. The adjustment for off-market terms increased the ROU assets acquired by $2.3 million as of the acquisition date. The amortization of the favorable lease component of the ROU assets will be recognized within Selling, General, and Administrative Expenses in the Condensed Consolidated Statements of Operations on a straight-line basis over the 15 year remaining lease term.</div><div style="margin-bottom:12pt">The Company initially acquired 100% of the voting equity interests of the Operating Subsidiaries acquired during the six months ended June 30, 2026. The Company owns preferred stock in each acquired Operating Subsidiary, and the preferred stock owned by the Company has a liquidation preference over common stockholders of each Operating Subsidiary in case of a liquidation event. The liquidation preference is equal to the price per share on the acquisition date adjusted for any additional contributions, stock splits, stock dividends, or similar transactions. The Company also controls the board of directors of each acquired Operating Subsidiary. </div><div style="margin-bottom:12pt">Certain historical acquisitions prior to 2023 were acquired for 90% in cash and the issuance of preferred stock to the former owners equal to 10% of all the issued and outstanding stock of the Operating Subsidiaries, calculated on a fully diluted and as-converted basis (the “Rollover Shares”), as of the acquisition date. Rollover Shares are classified as Redeemable Noncontrolling Interests outside of permanent equity in the Company’s Condensed Consolidated Balance Sheets. During the six months ended June 30, 2026, the Company paid $0.5 million to repurchase Rollover Shares held by the former owners of certain Operating Subsidiaries. In comparison, during the six months ended June 30, 2025, the Company paid $0.7 million to repurchase Rollover Shares held by the former owners of certain Operating Subsidiaries. Rollover Share repurchases are included in Acquisitions of Noncontrolling Interests in the Condensed Consolidated Statements of Cash Flows.</div><div style="margin-bottom:12pt">The business combinations completed during the six months ended June 30, 2026 were funded by cash on hand and the issuance of debt. See Note 10. </div><div style="margin-bottom:12pt">The business combinations completed during the six months ended June 30, 2026 resulted in goodwill totaling $3.1 million. All of the goodwill that was acquired during the six months ended June 30, 2026 was assigned to the SME reportable segment. All of the goodwill generated from the business combination during the six months ended June 30, 2026 is deductible for tax purposes. The determination of the final purchase price allocation to specific assets acquired and liabilities assumed may be subject to change during the measurement period up to one year following the acquisition date. </div><div style="margin-bottom:12pt">During the three and six months ended June 30, 2026, the Company recorded measurement period adjustments to Operating Subsidiaries acquired during the year ended December 31, 2025 that increased Goodwill, Net by $0.7 million. See Note 9.</div><div style="margin-bottom:12pt">The Company recognized $3.2 million of Revenue and $0.4 million of Net Income Attributable to Teamshares Inc. in the Condensed Consolidated Statements of Operations during the three months ended June 30, 2026, and $3.9 million of Revenue and $0.4 million of Net Income Attributable to Teamshares Inc. during the six months ended June 30, 2026 related to the two Operating Subsidiaries acquired during the six months ended June 30, 2026. </div><div style="margin-bottom:12pt">For disclosures of the business combinations completed during the year ended December 31, 2025, refer to Note 4 of the audited consolidated financial statements of the Company for the fiscal year ended December 31, 2025 in the Proxy Statement/Prospectus. The following table summarizes the unaudited pro forma condensed financial information of the </div><div style="margin-bottom:12pt">Company as if the business combination during the three and six months ended June 30, 2026, and all business combinations during the year ended December 31, 2025, had occurred on January 1, 2025 (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="border-bottom:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Unaudited</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Three Months Ended</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total Revenue</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">149,258 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">148,970 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">273,133 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">271,260 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Income (Loss) from Operations (1)</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,328 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">666 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(3,754)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(10,118)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Net Income (Loss) (2)</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,810 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(8,430)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(12,671)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(29,205)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="padding-left:18pt;text-indent:-18pt">(1)Pro forma adjustments increased Depreciation by $0.1 million during the six months ended June 30, 2026 compared to the Condensed Consolidated Statement of Operations. Pro forma adjustments increased Depreciation by $0.2 million and $0.4 million, respectively, and Amortization by $0.3 million and $0.5 million, respectively, during the three and six months ended June 30, 2025 compared to the Condensed Consolidated Statement of Operations. </div><div style="padding-left:18pt;text-indent:-18pt">(2)Pro forma adjustments increased Interest Expense, Net by $0.1 million during the six months ended June 30, 2026 compared to the Condensed Consolidated Statement of Operations. Pro forma adjustments increased Interest Expense, Net by $1.1 million and $2.2 million, respectively, during the three and six months ended June 30, 2025 compared to the Condensed Consolidated Statement of Operations. Pro forma adjustments for the six months ended June 30, 2025 included the addition of approximately $0.8 million of acquisition-related transaction costs reclassified from the periods in which such costs were incurred to the six months ended June 30, 2025, as if the acquisitions had occurred on January 1, 2025. Pro forma adjustments did not impact Income Tax Expense during the three and six months ended June 30, 2026 or 2025. </div><div style="margin-top:18pt">Contingent Consideration Agreements </div><div> </div><div style="margin-bottom:12pt">The Company has contingent consideration liabilities related to earnout agreements in certain of its business combinations. The terms of the contingent consideration agreements vary but typically consist of a payout equal to a future percentage of a financial metric (typically revenue or a specified profitability metric) for a determined period of time (usually 1-6 years subsequent to the acquisition date). The Company estimates the future consideration payable related to the contingent consideration agreements and includes it as a current or long-term contingent consideration liability in the Condensed Consolidated Balance Sheets. Changes to the fair value of contingent consideration are recognized in Non-Operating Expense (Income) in the Condensed Consolidated Statements of Operations. </div><div style="margin-bottom:12pt">As of June 30, 2026 and December 31, 2025, respectively, the fair value of contingent consideration liabilities was $9.0 million and $9.2 million. As of June 30, 2026 and December 31, 2025, respectively, $2.7 million and $3.2 million is considered a current liability expected to be paid out within the next year, and $6.3 million and $6.0 million is considered a long-term liability expected to be paid out more than a year from the reporting date. The Company recognized losses of $0.9 million and $0.9 million related to the changes in fair value of contingent consideration agreements during the three and six months ended June 30, 2026, respectively. The Company recognized losses of $0.4 million and $0.3 million related to the changes in fair value of contingent consideration agreements during the three and six months ended June 30, 2025, respectively. </div><div style="margin-bottom:12pt">As of June 30, 2026, the Company had 31 Operating Subsidiaries with contingent consideration liabilities, which all contain a cap on the maximum amount payable. As of June 30, 2026, the maximum amount of contingent consideration payable in the future totaled $34.6 million. </div><div style="margin-bottom:12pt">During the six months ended June 30, 2026 and 2025, respectively, the Company made payments related to the contingent consideration agreements of $1.3 million and $1.0 million. Contingent consideration payments were not made soon after the applicable acquisition date and therefore are recognized as financing activities in the Condensed Consolidated Statements of Cash Flows, up to the estimated fair value of the obligation as of the acquisition date. Payments in excess of the original acquisition date fair value are recognized as operating activities in the Condensed Consolidated Statements of Cash Flows. The Company recognized $0.5 million and $0.8 million of payments related to contingent consideration agreements as operating activities, and $0.8 million and $0.2 million of payments related to contingent consideration </div>agreements as financing activities in the Condensed Consolidated Statements of Cash Flows during the six months ended June 30, 2026 and 2025, respectively.

<div style="margin-bottom:12pt">The following table summarizes the estimated acquisition date fair values of the aggregate assets acquired and liabilities assumed for the six months ended June 30, 2026: </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Consideration:</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Cash</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">6,386 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Seller Notes at fair value</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,689 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Contingent consideration</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">372 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 48.37pt;text-align:left;text-indent:-5.76pt;vertical-align:top">Total consideration transferred</td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,447 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Fair value of assets acquired and liabilities assumed:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Cash and cash equivalents</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,319 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Accounts receivable</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">210 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Inventory</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">7,323 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Prepaid expenses & other assets</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Trade names</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">806 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Property, plant, and equipment</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,136 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Right of use assets</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,206 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Accounts payable & accrued liabilities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(755)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-5.77pt;vertical-align:top">Lease liabilities</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,906)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="display:none"></td><td colspan="3" style="display:none"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 48.37pt;text-align:left;text-indent:-5.76pt;vertical-align:top">Total identifiable assets acquired, net</td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,340 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 53pt;text-align:left;text-indent:-10pt;vertical-align:top">Goodwill</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">3,107 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

6386000

9689000

372000

16447000

2319000

210000

7323000

2000

806000

1136000

4206000 755000

1906000

13340000

3107000

11000000.0

2300000

P15Y

0.90

0.10

500000 700000

3100000

700000

3200000

400000

3900000

400000

The following table summarizes the unaudited pro forma condensed financial information of the <div style="margin-bottom:12pt">Company as if the business combination during the three and six months ended June 30, 2026, and all business combinations during the year ended December 31, 2025, had occurred on January 1, 2025 (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="border-bottom:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Unaudited</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Three Months Ended</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="9" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total Revenue</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">149,258 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">148,970 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">273,133 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">271,260 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Income (Loss) from Operations (1)</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,328 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">666 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(3,754)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(10,118)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Net Income (Loss) (2)</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,810 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(8,430)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(12,671)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(29,205)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="padding-left:18pt;text-indent:-18pt">(1)Pro forma adjustments increased Depreciation by $0.1 million during the six months ended June 30, 2026 compared to the Condensed Consolidated Statement of Operations. Pro forma adjustments increased Depreciation by $0.2 million and $0.4 million, respectively, and Amortization by $0.3 million and $0.5 million, respectively, during the three and six months ended June 30, 2025 compared to the Condensed Consolidated Statement of Operations. </div>(2)Pro forma adjustments increased Interest Expense, Net by $0.1 million during the six months ended June 30, 2026 compared to the Condensed Consolidated Statement of Operations. Pro forma adjustments increased Interest Expense, Net by $1.1 million and $2.2 million, respectively, during the three and six months ended June 30, 2025 compared to the Condensed Consolidated Statement of Operations. Pro forma adjustments for the six months ended June 30, 2025 included the addition of approximately $0.8 million of acquisition-related transaction costs reclassified from the periods in which such costs were incurred to the six months ended June 30, 2025, as if the acquisitions had occurred on January 1, 2025. Pro forma adjustments did not impact Income Tax Expense during the three and six months ended June 30, 2026 or 2025.

149258000

148970000

273133000

271260000

3328000

666000

-3754000

-10118000

9810000

-8430000

-12671000

-29205000

100000

200000

400000

300000

500000

100000

1100000

2200000

800000

P1Y P6Y

9000000.0

9200000

2700000

3200000

6300000

6000000.0

900000

400000

300000

34600000

1300000 1000000.0

500000

800000

200000

<div style="margin-top:18pt">NOTE 6 — Restricted Cash </div><div style="margin-bottom:12pt;margin-top:6pt">As part of the terms of certain of the Company’s debt agreements, the Company is required to maintain certain deposit accounts. These deposits are classified as restricted cash. As of June 30, 2026, the Company had $10.0 million of restricted cash related to debt agreements, including $6.8 million in debt service reserve accounts pledged as collateral (“Collateral Accounts”), and $3.1 million in collection accounts to be used to pay current fees, costs, and interest related to the debt (“Collection Accounts”). Any cash held in Collection Accounts in excess of debt servicing costs is available for distribution to Teamshares. As of December 31, 2025, the Company had $11.7 million of restricted cash related to debt agreements, including $6.8 million in Collateral Accounts, and $4.9 million in Collection Accounts. Restricted cash related to debt agreements is included within Long-Term Assets in the Condensed Consolidated Balance Sheets, unless the associated debt obligation matures within the next twelve months, in which case the restricted cash balance is included within Current Assets in the Consolidated Balance Sheets. </div>As part of the terms of the Company’s self-insurance program, the Company is required to maintain separate deposit accounts. Distributions from these accounts require regulatory approval, and therefore the deposits are classified as restricted cash. As of June 30, 2026 and December 31, 2025, the Company had $2.3 million and $2.1 million, respectively, classified as restricted cash related to self-insurance programs. These deposits are included in Current Assets in the Condensed Consolidated Balance Sheets.

10000000.0

6800000

3100000

11700000

6800000

4900000

2300000 2100000

<div style="margin-top:18pt">NOTE 7 — Inventories</div><div style="margin-bottom:12pt;margin-top:6pt">Inventories consisted of the following (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">December 31, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Raw materials</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,634 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,439 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Work in process</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,106 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">886 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Finished goods</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">54,583 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">44,079 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total inventories</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">57,323 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">46,405 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

1634000

1439000

1106000

886000

54583000

44079000

57323000

46405000

<div style="margin-top:18pt">NOTE 8 — Property, Plant, and Equipment, Net</div><div style="margin-bottom:12pt;margin-top:6pt">Property, plant, and equipment, net consisted of the following (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">December 31, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Vehicles</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9,215 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9,003 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Computers and equipment</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,223 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">11,697 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Furniture and fixtures</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,254 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,228 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Third-party software</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,478 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,077 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Leasehold improvements</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,085 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,148 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Buildings</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,411 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,196 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Land</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,437 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,484 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Other fixed assets</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,006 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">905 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total property, plant, and equipment, gross</td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">47,109 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">44,737 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less: Accumulated depreciation</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(16,526)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(14,694)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total property, plant, and equipment, net</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">30,583 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">30,043 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>Depreciation expense related to property, plant and equipment was $1.6 million and $2.6 million for the three and six months ended June 30, 2026, respectively, and $1.3 million and $2.6 million for the three and six months ended June 30, 2025, respectively. This includes $0.5 million and $0.7 million of depreciation expense recognized in Cost of Revenue during the three and six months ended June 30, 2026, respectively, and $0.5 million and $0.9 million during the three and six months ended June 30, 2025, respectively.

<div style="margin-bottom:12pt;margin-top:6pt">Property, plant, and equipment, net consisted of the following (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">December 31, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Vehicles</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9,215 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9,003 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Computers and equipment</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,223 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">11,697 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Furniture and fixtures</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,254 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,228 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Third-party software</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,478 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,077 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Leasehold improvements</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,085 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,148 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Buildings</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,411 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,196 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Land</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,437 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,484 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Other fixed assets</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,006 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">905 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total property, plant, and equipment, gross</td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">47,109 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">44,737 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less: Accumulated depreciation</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(16,526)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(14,694)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total property, plant, and equipment, net</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">30,583 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">30,043 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

9215000

9003000

13223000

11697000

4254000

4228000

2478000

2077000

10085000

10148000

3411000

3196000

3437000

3484000

1006000

905000

47109000

44737000

16526000

14694000

30583000

30043000

1600000

2600000

1300000

2600000

500000

700000

500000

900000

<div style="margin-top:18pt">NOTE 9 — Goodwill and Intangible Assets </div><div style="margin-top:6pt">Goodwill </div><div style="margin-bottom:8pt;margin-top:6pt">Goodwill arising from acquisitions primarily relates to the reputation the Operating Subsidiaries have established within local communities, strength of their customer bases, and assembled workforces that will remain after the business combination is completed.</div><div style="margin-bottom:12pt">The following table presents the changes in the carrying amount of the Company’s Goodwill. All Goodwill is reported within the SME segment (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Balance at January 1, 2026</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">244,743 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Goodwill as a result of acquisitions</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,107 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Purchase accounting adjustments</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">722 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Currency translation</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,791)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Balance at June 30, 2026</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">246,781 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt">During the three and six months ended June 30, 2026, the Company did not recognize any Goodwill Impairment. </div><div style="margin-top:18pt">Intangible Assets </div><div style="margin-bottom:12pt;margin-top:6pt">Intangible assets primarily consist of trade names, customer related intangible assets, and internally developed software. The internally developed software relates to proprietary software platforms utilized by Operating Subsidiaries and corporate. The Company does not have any definitive plans to sell or license these platforms to third parties in the near future. Internally developed software is amortized on a straight-line basis over 3 years. For the three and six months ended June 30, 2026, respectively, the Company recognized $1.1 million and $2.2 million of amortization expense relating to internally developed software. For the three and six months ended June 30, 2025, respectively, the Company recognized $0.9 million and $1.9 million of amortization expense relating to internally developed software. </div><div style="margin-bottom:12pt">Acquired trade names represent a target’s portfolio of marketing intangible assets. The Company values trade name intangible assets using a benchmarking method. Acquired trade names are amortized over a 10-year useful life using the straight-line amortization method. For the three and six months ended June 30, 2026, respectively, the Company recognized $0.4 million and $1.0 million of amortization expense relating to trade names. For the three and six months ended June 30, 2025, respectively, the Company recognized $0.5 million and $1.0 million of amortization expense relating to trade names. There were no definite-lived intangible asset impairment charges recognized during the three and six months ended June 30, 2026. The amortization expense recognized during the three and six months ended June 30, 2025, respectively, includes $0.2 million and $0.3 million of definite-lived intangible asset impairment charges. </div><div style="margin-bottom:12pt">Customer related intangible assets consist of contractual and non-contractual customer relationships. The Company estimates the fair values of acquired customer related intangible assets as of their acquisition dates using an income approach. Acquired customer related intangible assets are amortized over their estimated useful lives using the straight-line amortization method. For the three and six months ended June 30, 2026, respectively, the Company recognized $0.2 million and $0.3 million of amortization expense related to customer related intangible assets. All of the customer related intangible assets that were acquired during the year ended December 31, 2025 were acquired near the end of the year. Therefore, the Company did not recognize any amortization expense related to customer-related intangible assets during the year ended December 31, 2025. Customer related intangible assets are included within Other Assets on the Condensed Consolidated Balance Sheets</div><div style="margin-bottom:12pt;margin-top:12pt">Intangible assets consisted of the following (dollars in thousands): </div><div style="margin-bottom:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Gross</div><div style="text-align:center">Carrying</div><div style="text-align:center">Amount</div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Accumulated</div><div style="text-align:center">Amortization</div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Net Asset</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Trade names</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">17,153 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(4,646)</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12,506 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Internally developed software</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,662 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(11,198)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,464 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Customer related intangibles</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,093 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(329)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,764 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">39,907 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(16,174)</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">23,734 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">December 31, 2025</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Gross</div><div style="text-align:center">Carrying</div><div style="text-align:center">Amount</div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Accumulated</div><div style="text-align:center">Amortization</div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Net Asset</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Trade names</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">15,453 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(3,855)</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">11,598 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Internally developed software</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,872 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(9,102)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,769 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Customer related intangibles</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,080 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,080 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">37,405 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(12,957)</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">24,447 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt">Estimated amortization expense for intangible assets as of June 30, 2026 is as follows (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Remainder of 2026</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">3,068 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">2027</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,380 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">2028</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,457 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">2029</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,663 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">2030</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,295 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">2031 and thereafter</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">7,871 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">23,734 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

<div style="margin-bottom:12pt">The following table presents the changes in the carrying amount of the Company’s Goodwill. All Goodwill is reported within the SME segment (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Balance at January 1, 2026</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">244,743 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Goodwill as a result of acquisitions</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,107 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Purchase accounting adjustments</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">722 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Currency translation</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,791)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Balance at June 30, 2026</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">246,781 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

244743000

3107000

722000

1791000

246781000

P3Y

1100000

2200000

900000

1900000

P10Y

400000

1000000.0

500000

1000000.0

200000

300000

200000

300000

<div style="margin-bottom:12pt;margin-top:12pt">Intangible assets consisted of the following (dollars in thousands): </div><div style="margin-bottom:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Gross</div><div style="text-align:center">Carrying</div><div style="text-align:center">Amount</div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Accumulated</div><div style="text-align:center">Amortization</div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Net Asset</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Trade names</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">17,153 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(4,646)</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12,506 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Internally developed software</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,662 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(11,198)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,464 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Customer related intangibles</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,093 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(329)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,764 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">39,907 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(16,174)</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">23,734 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="15" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">December 31, 2025</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Gross</div><div style="text-align:center">Carrying</div><div style="text-align:center">Amount</div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Accumulated</div><div style="text-align:center">Amortization</div></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Net Asset</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Trade names</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">15,453 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(3,855)</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">11,598 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Internally developed software</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,872 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(9,102)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,769 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Customer related intangibles</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,080 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,080 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">37,405 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(12,957)</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">24,447 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

17153000

4646000

12506000

16662000

11198000

5464000

6093000

329000

5764000

39907000

16174000

23734000

15453000

3855000

11598000

15872000

9102000

6769000

6080000

37405000

12957000

24447000

<div style="margin-bottom:12pt;margin-top:12pt">Estimated amortization expense for intangible assets as of June 30, 2026 is as follows (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Remainder of 2026</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">3,068 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">2027</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,380 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">2028</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,457 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">2029</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,663 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">2030</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,295 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">2031 and thereafter</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">7,871 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">23,734 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

3068000

4380000

3457000

2663000

2295000

7871000

23734000

<div style="margin-top:18pt">NOTE 10 — Debt</div><div style="margin-bottom:12pt;margin-top:6pt">Debt of the Company consisted of the following (dollars in thousands):</div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">December 31, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">i80 Facility</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">153,377 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">153,377 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Single Company Term Loans</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">56,137 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">61,510 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">HBC Credit Facility</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">31,250 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">TDC Loans</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,184 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,375 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Vehicle and equipment notes</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,228 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,838 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Seller Notes</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">40,668 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">29,840 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Other Debt</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,600 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,000 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less: Debt issuance costs</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,260)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,842)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less: Discounts</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(7,000)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(11,802)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total debt, net</td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">277,934 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">291,546 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#cceeff;padding:0 1pt 0 11pt;text-indent:-10pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Current maturities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">208,314 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">206,982 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less: Debt issuance costs</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(987)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,585)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less: Discounts</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(134)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(5,250)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total Short-Term Debt and Current Portion of Long-Term Debt</td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">207,193 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">200,147 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total Long-Term Debt, Net</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">70,742 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">91,399 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:18pt">i80 Facility </div><div style="margin-bottom:12pt;margin-top:6pt">On May 4, 2021, Teamshares Continuity Holdings LLC, a wholly owned subsidiary of Teamshares, entered into a credit facility with i80 Group LLC, as the lender (the “i80 Facility”) and Westmount Group LLC, a wholly owned subsidiary of i80 Group LLC, as the administrative and collateral agent. The i80 Facility matures on December 5, 2026. As of June 30, 2026 and December 31, 2025, respectively, the weighted average interest rate on borrowings under the i80 Facility was 14.7% and 15.2%. </div><div style="margin-bottom:12pt">The i80 Facility requires the Company to maintain a Collateral Account and a Collection Account. As of June 30, 2026 and December 31, 2025, respectively, the Collateral Account held balances of $6.4 million and $6.4 million, and the Collection Account held balances of $3.1 million and $4.8 million. </div><div style="margin-top:18pt">HBC Credit Facility</div><div style="margin-bottom:12pt;margin-top:6pt">Upon the Closing, the Company utilized $33.9 million of the proceeds of the SPAC Merger to extinguish the HBC Credit Facility (as defined in Note 9 of the audited consolidated financial statements of the Company for the fiscal year ended December 31, 2025 in the Proxy Statement/Prospectus). The carrying value of the HBC Credit Facility was the same as the principal balance of the facility at the time of extinguishment, and therefore the extinguishment of the HBC Credit Facility did not impact the Condensed Consolidated Statements of Operations.</div><div style="margin-bottom:12pt">As additional consideration for entering into the HBC Credit Facility, the Company agreed to pay the lender $1.0 million in cash, or an equivalent value of shares of Company Common Stock, following the closing of the SPAC Merger. The Company has the option to transfer cash or Company Common Stock, and management has not finalized its election to pay in cash or Company Common Stock. The Company is required to finalize its election and settle this obligation during August 2026. The $1.0 million liability is included in Other Current Liabilities on the Condensed Consolidated Balance Sheets.</div><div style="margin-top:18pt">Other Debt</div><div style="margin-bottom:12pt;margin-top:6pt">During 2025, the acquisition of one Operating Subsidiary was financed with a loan to the sellers of the business (the “Former Owner Bridge Loan”). The remaining principal balance of the Former Owner Bridge Loan was $10.0 million as of June 30, 2026. Prior to the issuance of this report, the Company repaid $8.0 million of the principal balance of the Former Owner Bridge Loan, as required by the agreement. See Note 17. The remaining principal balance matures on March 31, 2027. The Former Owner Bridge Loan is included in Short-Term Debt and Current Portion of Long-Term Debt on the Condensed Consolidated Balance Sheets. The loan bears interest at 12.5% per annum, payable monthly in cash.</div><div style="margin-bottom:12pt;margin-top:6pt">During the three months ended June 30, 2026, a former owner and current employee of an Operating Subsidiary that was purchased by the Company during 2025 loaned $3.0 million to the Company (the “Former Owner Loan”). The proceeds of the Former Owner Loan were used to purchase an Operating Subsidiary during the three months ended June 30, 2026. The original maturity date of the Former Owner Loan was the earlier of i) 5 days following the completion of the SPAC Merger or ii) November 1, 2026. Following the completion of the SPAC Merger, the maturity date of the Former Owner Loan was extended to July 15, 2026. The minimum interest payable under the Former Owner Loan was $0.6 million. The Former Owner Loan also provided the lender the option to settle the loan in $4.8 million of Company Common Stock. This option was not exercised by the lender.</div><div style="margin-bottom:12pt;margin-top:6pt">The Company elected the fair value option to account for the Former Owner Loan. Under the fair value option, changes in the fair value of the Former Owner Loan are recognized in the Condensed Consolidated Statements of Operations. The fair value of the Former Owner Loan is classified as Level 3 in the fair value hierarchy due to the use of pricing inputs that are less observable in the marketplace combined with management judgment required for assumptions underlying the calculation of value. The Company estimated the fair value of the Former Owner Loan taking into account expected cash flow and timing of the repayment.</div><div style="margin-bottom:12pt;margin-top:6pt">The fair value of the Former Owner Loan was $3.6 million as of June 30, 2026. See Note 11. The Company recognized a loss of $0.6 million in Other Non-Operating Expense (Income), Net related to the change in fair value of the Former Owner Loan during the three months ended June 30, 2026. Prior to the issuance of this report, the Company repaid the Former Owner Loan in full. See Note 17.</div><div style="margin-bottom:12pt;margin-top:6pt">Future maturities of long-term debt as of June 30, 2026 are as follows (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:85.718%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.082%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Remainder of 2026</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">188,042 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">2027</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">22,510 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">2028</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,959 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">2029</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,291 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">2030</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">41,204 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">2031 and thereafter</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">7,187 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">286,194 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>The Company was in compliance with all debt covenants as of June 30, 2026. If the Company fails to comply with any covenants, payments, or other terms of its debt agreements, and such failure constitutes an event of default, the lender would have the right to declare all borrowings outstanding, together with accrued and unpaid interest and fees, to be immediately due and payable.

<div style="margin-bottom:12pt;margin-top:6pt">Debt of the Company consisted of the following (dollars in thousands):</div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">December 31, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">i80 Facility</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">153,377 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">153,377 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Single Company Term Loans</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">56,137 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">61,510 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">HBC Credit Facility</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">31,250 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">TDC Loans</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,184 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,375 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Vehicle and equipment notes</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,228 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4,838 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Seller Notes</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">40,668 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">29,840 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Other Debt</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">13,600 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,000 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less: Debt issuance costs</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,260)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,842)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less: Discounts</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(7,000)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(11,802)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total debt, net</td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">277,934 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">291,546 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr style="height:15pt"><td colspan="3" style="background-color:#cceeff;padding:0 1pt 0 11pt;text-indent:-10pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Current maturities</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">208,314 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">206,982 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less: Debt issuance costs</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(987)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,585)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less: Discounts</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(134)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(5,250)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total Short-Term Debt and Current Portion of Long-Term Debt</td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">207,193 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">200,147 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total Long-Term Debt, Net</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">70,742 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">91,399 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

153377000 153377000 56137000 61510000 0 31250000 16184000 15375000 6228000 4838000 40668000 29840000 13600000 10000000

1260000

2842000

7000000

11802000

277934000

291546000

208314000 206982000

987000

1585000

134000

5250000

207193000

200147000

70742000

91399000

0.147

0.152

6400000

3100000

4800000

33900000

1000000.0

10000000.0

8000000.0

0.125

3000000.0

P5D

600000

4800000

3600000

-600000

188042000

22510000

10959000

16291000

41204000

7187000

286194000

<div style="margin-top:18pt">NOTE 11 — Fair Value of Financial Instruments</div><div> </div><div style="margin-bottom:12pt">The following table presents assets and liabilities measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation as follows (dollars in thousands):</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:45.566%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.627%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.627%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.627%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.629%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 3</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Liabilities:</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Former Owner Loan (Note 10)</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">3,600 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">3,600 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Contingent Consideration</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,999 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,999 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Earnout Shares</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">27,251 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">27,251 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Deferred Founder Shares</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,867 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,867 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Forward Purchase Agreement Liability</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,390 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,390 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Total liabilities</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">60,107 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">60,107 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div> </div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:45.566%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.627%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.627%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.627%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.629%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">December 31, 2025</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 3</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Liabilities:</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Contingent Consideration</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9,195 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9,195 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Warrant Liability</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,922 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,922 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Total liabilities</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12,117 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12,117 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div> </div><div style="margin-bottom:12pt;margin-top:6pt">Earnout Shares and Deferred Founder Shares</div><div style="margin-bottom:12pt">Certain former Legacy Teamshares security holders have the contingent right to receive up to 6,000,000 Earnout Shares during the Earnout Period and the Sponsor was issued 1,674,781 Deferred Founder Shares that are subject to vesting and forfeiture during the Founder Share Earnout Period as follows:</div><div style="margin-bottom:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:14.839%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.779%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.486%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.108%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Earnout Tier</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Share Price Target</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">VWAP Condition</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Earnout Shares</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Deferred Founder Shares</div></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Tier I</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">$12.00</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">VWAP ≥ $12.00 for 20 out of 30 consecutive trading days (commencing at least 150 days after Closing but prior to the end of the Earnout Period)</div></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2,000,000</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">837,391</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Tier II</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">$15.00</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">VWAP ≥ $15.00 for 20 out of 30 consecutive trading days (commencing at least 150 days after Closing but prior to the end of the Earnout Period)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2,000,000</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">837,390</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Tier III</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">$20.00</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">VWAP ≥ $20.00 for 20 out of 30 consecutive trading days (commencing at least 150 days after Closing but prior to the end of the Earnout Period)</div></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2,000,000</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">N/A</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Total</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">6,000,000</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">1,674,781</td></tr></table></div><div style="margin-bottom:12pt;margin-top:6pt">Upon the Closing, 5,170,903 Earnout Shares were reserved for non-employees of the Company, including holders of Legacy Teamshares Common Stock and Legacy Teamshares Preferred Stock that did not elect a liquidation preference. Earnout Shares reserved for non-employees, and Deferred Founder Shares are classified as liabilities, and the change in the fair value of these awards is recognized in the Condensed Consolidated Statements of Operations. See Note 13 for </div><div style="margin-bottom:12pt;margin-top:6pt">disclosure of the 829,097 Earnout Shares that were reserved for employees of the Company that are subject to continuous employment requirements.</div><div style="margin-bottom:12pt;margin-top:6pt">The fair value of Earnout Shares and Deferred Founder Shares are classified as Level 3 in the fair value hierarchy due to the use of pricing inputs that are less observable in the marketplace combined with management judgment required for the assumptions underlying the calculation of value. The Company calculated the fair value of these liabilities using a Monte Carlo simulation model. </div><div style="margin-bottom:12pt">The tables below summarize the fair value of the Earnout Shares and the Deferred Founder Shares:</div><div style="margin-bottom:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.901%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Earnout Tier</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Earnout Shares</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Deferred Founder Shares</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair Value Per Share as of the Closing Date</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair Value Per Share as of June 30, 2026</td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Tier I</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2,000,000</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">837,391</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">10.36 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">6.40 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Tier II</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2,000,000</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">837,390</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9.11 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">5.39 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Tier III</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2,000,000</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">N/A</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">7.04 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">4.02 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Total</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">6,000,000</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">1,674,781</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr></table></div><div style="margin-bottom:12pt">The table below summarizes the inputs used to calculate the fair value of the Earnout Shares and the Deferred Founder Shares as of the Closing Date and as of June 30, 2026:</div><div style="margin-bottom:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:57.687%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.678%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.681%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Input</td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Value as of the Closing Date</td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Value as of June 30, 2026</td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Stock Price</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">11.32 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">8.22 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Expected Remaining Term (in years)</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">5</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">4.97</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Expected Volatility</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">35.0 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">%</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">40.0 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Risk-Free Interest Rate</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4.2 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">%</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4.2 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">%</td></tr></table></div><div style="margin-bottom:12pt;margin-top:6pt">The following table presents the change in the Earnout Shares liability for the six months ended June 30, 2026 (dollars in thousands):</div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:83.748%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.052%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fair value as of the Closing Date</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">45,694 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Change in fair value of Earnout Shares</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(18,443)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fair value as of June 30, 2026</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">27,251 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div> </div><div style="margin-bottom:12pt;margin-top:6pt">The following table presents the change in the Deferred Founder Shares liability for the six months ended June 30, 2026 (dollars in thousands):</div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:83.748%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.052%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fair value as of the Closing Date</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">16,308 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Change in fair value of Deferred Founder Shares</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(6,441)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fair value as of June 30, 2026</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9,867 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div> </div><div style="margin-bottom:12pt">Forward Purchase Agreement</div><div>On June 1, 2026, in anticipation of the Closing, Live Oak entered into the Forward Purchase Agreement with the FPA Investor. Pursuant to the Forward Purchase Agreement, the Prepayment Amount owed to the FPA Investor upon the Closing was calculated as the product of (i) the 4,000,000 FPA Shares purchased on the open market by the FPA Investor and (ii) the per share redemption price of Live Oak common shares determined as of five business days prior to the closing (the “Initial Price”). The Initial Price was determined to be $10.56, and therefore the Prepayment Amount paid to the FPA Investor was $42.2 million.</div><div>The Forward Purchase Agreement matures 24 months from the Closing, however, the FPA Investor may terminate the agreement at any time, in whole or in part, with respect to any number of FPA Shares that are subject to the Forward Purchase Agreement. Upon termination, the FPA Investor will deliver to the Company a portion of the Prepayment Amount equal to the product of (i) the number of terminated shares (“Terminated Shares”) multiplied by the Reset Price (as defined below) in effect at the time of termination. The Reset Price is initially equal to the Initial Price, but is subject to reduction (and not increase) at any point prior to the maturity of the Forward Purchase Agreement, at the Company’s discretion, to the lowest daily VWAP over the preceding 10 trading days. Additionally, the Reset Price will automatically adjust in the event the Company issues securities at effective prices lower than the then-current Reset Price, subject to certain exceptions.</div><div> </div><div>If the Forward Purchase Agreement is not fully terminated by the FPA Investor prior to the maturity date, then on the maturity date the FPA Investor shall deliver to the Company the FPA Shares, reduced by any Terminated Shares. The FPA Investor will retain a portion of the Prepayment Amount equal to the product of (i) the FPA Shares reduced by any Terminated Shares and (ii) the Initial Price.</div><div> </div><div>The substance of the Prepayment Amount is akin to a subscription receivable for Company Common Stock, and therefore the payment of the Prepayment Amount has been presented as a reduction of Additional Paid-In Capital. Additionally, the Company recognized a derivative liability (the “Forward Purchase Agreement Liability”) that represents the estimated fair value of the Company’s settlement obligations under the Forward Purchase Agreement. The change in the fair value of the Forward Purchase Agreement Liability is recognized in the Condensed Consolidated Statements of Operations.</div><div> </div><div>The fair value of the Forward Purchase Agreement Liability is classified as Level 3 in the fair value hierarchy due to the use of pricing inputs that are less observable in the marketplace combined with management judgment required for the assumptions underlying the calculation of value. The Company determined the estimated fair value of the Forward Purchase Agreement Liability using the Black-Scholes option-pricing model.</div><div> </div><div style="margin-bottom:12pt">The table below summarizes the inputs used to calculate the fair value of the Forward Purchase Agreement Liability as of the Closing Date and as of June 30, 2026:</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:57.687%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.678%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.681%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Input</td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Value as of the Closing Date</td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Value as of June 30, 2026</td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Stock Price</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">11.32 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">8.22 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Expected Remaining term (in years)</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">1.97</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Expected Volatility</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">35.0 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">%</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">35.0 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Risk-free interest rate</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4.2 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">%</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4.1 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">%</td></tr></table></div><div> </div><div style="margin-bottom:12pt;margin-top:6pt">The following table presents the change in the Forward Purchase Agreement liability for the six months ended June 30, 2026 (dollars in thousands):</div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:83.748%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.052%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fair value as of the Closing Date</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">5,386 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Change in fair value of Forward Purchase Agreement Liability</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,003 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fair value as of June 30, 2026</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">10,390 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:6pt"> </div><div>Simple Agreements for Future Equity </div><div> </div><div>During the period between December 2025 and May 2026, Legacy Teamshares entered into SAFE Notes for aggregate proceeds of approximately $6.3 million. All SAFE Notes issued by Legacy Teamshares automatically converted into 688,043 shares of Company Common Stock on the Closing Date. An additional 63,300 Incentive Founder Shares were delivered to holders of SAFE Notes upon the Closing. The Company recognized a loss of $2.2 million in the Condensed </div><div>Consolidated Statements of Operations for the three months ended June 30, 2026 related to the conversion of SAFE Notes to Company Common Stock.</div><div> </div><div>Legacy Teamshares Warrants </div><div style="margin-top:6pt">In connection with the SPAC Merger, holders of 77,258 Series B Warrants issued by Legacy Teamshares exercised their option to convert their Series B Warrants into 48,990 shares of Legacy Teamshares Common Stock. The Legacy Teamshares Common Stock was then converted to Company Common Stock at the Exchange Ratio. The Company recognized a $0.2 million loss in the Condensed Consolidated Statements of Operations for the three months ended June 30, 2026 related to the conversion of Series B Warrants to Legacy Teamshares Common Stock.</div><div> </div><div>All Series C, Series D, and Series E Warrants issued by Legacy Teamshares were terminated and did not receive any consideration in connection with the SPAC Merger because these warrants were out-of-the-money at the Closing. The Company recognized a $0.6 million gain in the Condensed Consolidated Statements of Operations for the three months ended June 30, 2026 related to the expiration of the Series C, Series D, and Series E Warrants.</div><div style="margin-top:18pt">Contingent Consideration </div><div> </div><div>The Company has contingent consideration clauses embedded within certain purchase agreements for acquired Operating Subsidiaries. The consideration is contingent on certain future financial metrics being achieved for a certain period of time. The contingent consideration liabilities are recorded at fair value as Contingent Consideration in the Condensed Consolidated Balance Sheets with the changes in fair value recognized in earnings each reporting period. For additional detail regarding the contingent consideration agreements, see Note 5.</div><div> </div><div>The fair value of contingent consideration is classified as Level 3 in the fair value hierarchy due to the use of pricing inputs that are less observable in the marketplace combined with management judgment required for the assumptions underlying the calculation of value. The Company determined the estimated fair value of the contingent consideration using a Monte Carlo simulation model.</div><div style="margin-bottom:12pt;margin-top:6pt">The following table presents changes in contingent consideration liabilities for the three and six months ended June 30, 2026 (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.809%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.142%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.143%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt 0 11pt;text-indent:-10pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Three Months Ended June 30, 2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Six Months Ended June 30, 2026</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Balance of period</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">8,417 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9,195 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Contingent consideration for 2026 business combinations</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">194 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">372 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Change in fair value of earnout consideration</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">889 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">886 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Foreign currency impact on earnout consideration</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(76)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(183)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Earnout payments made in period</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(424)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,271)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Balance at June 30, 2026</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">8,999 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">8,999 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>There were no transfers of financial instruments between the three levels of the fair value hierarchy during the three and six months ended June 30, 2026.

<div style="margin-bottom:12pt">The following table presents assets and liabilities measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation as follows (dollars in thousands):</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:45.566%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.627%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.627%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.627%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.629%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 3</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Liabilities:</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Former Owner Loan (Note 10)</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">3,600 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">3,600 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Contingent Consideration</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,999 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,999 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Earnout Shares</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">27,251 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">27,251 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Deferred Founder Shares</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,867 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">9,867 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Forward Purchase Agreement Liability</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,390 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">10,390 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Total liabilities</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">60,107 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">60,107 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div> </div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:45.566%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.627%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.627%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.627%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:11.629%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="21" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">December 31, 2025</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 1</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 2</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Level 3</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Total</td></tr><tr style="height:15pt"><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Liabilities:</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Contingent Consideration</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9,195 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9,195 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Warrant Liability</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,922 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">2,922 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Total liabilities</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12,117 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">12,117 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

3600000

8999000

27251000

9867000

10390000

60107000

9195000

2922000

12117000

<div style="margin-bottom:12pt">Certain former Legacy Teamshares security holders have the contingent right to receive up to 6,000,000 Earnout Shares during the Earnout Period and the Sponsor was issued 1,674,781 Deferred Founder Shares that are subject to vesting and forfeiture during the Founder Share Earnout Period as follows:</div><div style="margin-bottom:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:14.839%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.884%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:30.779%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:13.486%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.401%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:20.108%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Earnout Tier</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Share Price Target</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">VWAP Condition</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Earnout Shares</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Deferred Founder Shares</div></td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Tier I</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">$12.00</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">VWAP ≥ $12.00 for 20 out of 30 consecutive trading days (commencing at least 150 days after Closing but prior to the end of the Earnout Period)</div></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2,000,000</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">837,391</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Tier II</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">$15.00</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">VWAP ≥ $15.00 for 20 out of 30 consecutive trading days (commencing at least 150 days after Closing but prior to the end of the Earnout Period)</div></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2,000,000</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">837,390</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Tier III</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">$20.00</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">VWAP ≥ $20.00 for 20 out of 30 consecutive trading days (commencing at least 150 days after Closing but prior to the end of the Earnout Period)</div></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2,000,000</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">N/A</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Total</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">6,000,000</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">1,674,781</td></tr></table></div>

6000000 1674781 12.00 12.00 20 30 P150D 2000000 837391 15.00 15.00 20 30 P150D 2000000 837390 20.00 20.00 20 30 P150D 2000000 6000000 1674781 5170903 829097

<div style="margin-bottom:12pt">The tables below summarize the fair value of the Earnout Shares and the Deferred Founder Shares:</div><div style="margin-bottom:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:16.475%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.900%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.901%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Earnout Tier</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Earnout Shares</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">Deferred Founder Shares</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair Value Per Share as of the Closing Date</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Fair Value Per Share as of June 30, 2026</td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Tier I</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2,000,000</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">837,391</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">10.36 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">6.40 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Tier II</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2,000,000</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">837,390</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9.11 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">5.39 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Tier III</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">2,000,000</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">N/A</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">7.04 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">4.02 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Total</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">6,000,000</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">1,674,781</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr></table></div>

2000000 837391 10.36 6.40 2000000 837390 9.11 5.39 2000000 7.04 4.02 6000000 1674781

<div style="margin-bottom:12pt">The table below summarizes the inputs used to calculate the fair value of the Earnout Shares and the Deferred Founder Shares as of the Closing Date and as of June 30, 2026:</div><div style="margin-bottom:12pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:57.687%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.678%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.681%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Input</td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Value as of the Closing Date</td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Value as of June 30, 2026</td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Stock Price</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">11.32 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">8.22 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Expected Remaining Term (in years)</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">5</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">4.97</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Expected Volatility</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">35.0 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">%</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">40.0 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Risk-Free Interest Rate</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4.2 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">%</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4.2 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">%</td></tr></table></div><div style="margin-bottom:12pt">The table below summarizes the inputs used to calculate the fair value of the Forward Purchase Agreement Liability as of the Closing Date and as of June 30, 2026:</div><div><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:57.687%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.678%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:16.021%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:2.681%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Input</td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Value as of the Closing Date</td><td colspan="3" style="padding:0 1pt"></td><td colspan="6" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Value as of June 30, 2026</td></tr><tr><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Stock Price</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">11.32 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">8.22 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Expected Remaining term (in years)</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">2</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:right;vertical-align:bottom">1.97</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Expected Volatility</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">35.0 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">%</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">35.0 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">%</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Risk-free interest rate</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4.2 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">%</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">4.1 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">%</td></tr></table></div>

11.32

8.22

4.97

0.350

0.400

0.042

<div style="margin-bottom:12pt;margin-top:6pt">The following table presents the change in the Earnout Shares liability for the six months ended June 30, 2026 (dollars in thousands):</div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:83.748%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.052%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fair value as of the Closing Date</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">45,694 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Change in fair value of Earnout Shares</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(18,443)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fair value as of June 30, 2026</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">27,251 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div> </div><div style="margin-bottom:12pt;margin-top:6pt">The following table presents the change in the Deferred Founder Shares liability for the six months ended June 30, 2026 (dollars in thousands):</div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:83.748%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.052%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fair value as of the Closing Date</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">16,308 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Change in fair value of Deferred Founder Shares</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(6,441)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fair value as of June 30, 2026</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9,867 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:6pt">The following table presents the change in the Forward Purchase Agreement liability for the six months ended June 30, 2026 (dollars in thousands):</div><div style="margin-top:6pt"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:83.748%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:14.052%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fair value as of the Closing Date</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">5,386 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Change in fair value of Forward Purchase Agreement Liability</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,003 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">Fair value as of June 30, 2026</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">10,390 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

45694000

-18443000

27251000

16308000

-6441000

9867000

4000000

10.56

42200000

P24M 10

11.32

8.22

1.97

0.350

0.042

0.041

5386000

5003000

10390000

6300000

688043

63300

2200000

77258

48990

-200000 600000 <div style="margin-bottom:12pt;margin-top:6pt">The following table presents changes in contingent consideration liabilities for the three and six months ended June 30, 2026 (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:59.809%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.142%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:18.143%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt 0 11pt;text-indent:-10pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Three Months Ended June 30, 2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Six Months Ended June 30, 2026</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Balance of period</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">8,417 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9,195 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Contingent consideration for 2026 business combinations</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">194 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">372 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Change in fair value of earnout consideration</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">889 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">886 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Foreign currency impact on earnout consideration</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(76)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(183)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Earnout payments made in period</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(424)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,271)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Balance at June 30, 2026</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">8,999 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">8,999 </td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

8417000

9195000

194000 372000

889000

886000

76000 183000 424000 1271000

8999000

<div style="margin-top:18pt">NOTE 12 — Leases</div><div style="margin-bottom:12pt;margin-top:6pt">Operating leases were included on the Company’s Condensed Consolidated Balance Sheets as follows (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">December 31, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Operating Leases:</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Operating lease right of use assets, net</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">96,554 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">93,586 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Current portion of operating lease obligations</td><td style="background-color:#cceeff;border-top:3pt double #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:3pt double #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">8,952 </td><td style="background-color:#cceeff;border-top:3pt double #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:3pt double #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:3pt double #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">8,524 </td><td style="background-color:#cceeff;border-top:3pt double #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Long-term operating lease obligations</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">89,203 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">88,144 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total lease liability</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">98,155 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">96,668 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;margin-top:12pt">The components of operating lease expense were as follows (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">For the Three Months</div><div style="text-align:center">Ended</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Operating lease cost</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">5,711 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">4,136 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">11,540 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">8,348 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Short-term lease costs</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">705 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">718 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,345 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,222 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Variable lease expense</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,300 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">836 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,970 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,343 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total operating lease expense, net</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">7,717 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">5,690 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">14,855 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">10,912 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt">Supplemental cash flow information related to operating leases for the six months ended June 30, 2026 and 2025 was as follows (dollars in thousands): </div><div style="margin-bottom:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Cash paid for amounts included in the measurement of operating lease liabilities</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">10,496 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">7,874 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Right of use assets obtained in exchange for operating lease liabilities</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,932 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">14,621 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

<div style="margin-bottom:12pt;margin-top:6pt">Operating leases were included on the Company’s Condensed Consolidated Balance Sheets as follows (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">December 31, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Operating Leases:</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Operating lease right of use assets, net</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">96,554 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">93,586 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Current portion of operating lease obligations</td><td style="background-color:#cceeff;border-top:3pt double #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:3pt double #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">8,952 </td><td style="background-color:#cceeff;border-top:3pt double #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:3pt double #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:3pt double #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">8,524 </td><td style="background-color:#cceeff;border-top:3pt double #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Long-term operating lease obligations</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">89,203 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">88,144 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total lease liability</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">98,155 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">96,668 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

96554000

93586000

8952000

8524000

89203000

88144000

98155000

96668000

<div style="margin-bottom:12pt;margin-top:12pt">The components of operating lease expense were as follows (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom"><div style="text-align:center">For the Three Months</div><div style="text-align:center">Ended</div></td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Operating lease cost</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">5,711 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">4,136 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">11,540 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">8,348 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Short-term lease costs</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">705 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">718 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,345 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,222 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Variable lease expense</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,300 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">836 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,970 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,343 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total operating lease expense, net</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">7,717 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">5,690 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">14,855 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="padding:0 1pt"></td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">10,912 </td><td style="border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt">Supplemental cash flow information related to operating leases for the six months ended June 30, 2026 and 2025 was as follows (dollars in thousands): </div><div style="margin-bottom:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:71.930%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.083%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Cash paid for amounts included in the measurement of operating lease liabilities</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">10,496 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">7,874 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Right of use assets obtained in exchange for operating lease liabilities</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,932 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">14,621 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

5711000

4136000

11540000

8348000

705000

718000

1345000

1222000

1300000

836000

1970000

1343000

7717000

5690000

14855000

10912000

10496000

7874000

2932000

14621000

<div style="margin-top:18pt">NOTE 13 — Stock Compensation</div><div style="margin-bottom:12pt;margin-top:6pt">During the three and six months ended June 30, 2026 and 2025, the Company recognized stock compensation expense as follows (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Three Months Ended</td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Teamshares Inc. awards</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">444 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">573 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,071 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,184 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Earnout Shares</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">301 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">301 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Operating Subsidiary Stock Plans</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">334 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">391 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">644 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">766 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total stock compensation expense</td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,079 </td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">964 </td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,016 </td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,950 </td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div>Teamshares Inc. Awards</div><div> </div><div>Prior to the Closing Date, all of the outstanding awards issued under the Legacy Teamshares 2020 Equity Incentive Plan consisted of options to purchase Legacy Teamshares Common Stock (“Legacy Teamshares Options”). Upon the Closing, all of the Legacy Teamshares Options, whether vested or unvested, were assumed by the Company and converted into </div><div>Assumed Options. The Assumed Options were subject to equitable adjustments to the exercise prices and number of shares for which such Assumed Options are exercisable, as follows:</div><div> </div><div style="padding-left:36pt;text-indent:-18pt">1.the number of shares underlying the Assumed Option equals the Legacy Teamshares Option shares multiplied by an exchange ratio of approximately 4.510, rounded down to the nearest whole share;</div><div style="padding-left:36pt;text-indent:-18pt">2.the exercise price of the Assumed Options equals the Legacy Teamshares Option exercise price divided by an exchange ratio of approximately 4.510, rounded up to the nearest cent.</div><div style="padding-left:36pt"> </div><div>Immediately prior to the Closing there were 1,412,833 Legacy Teamshares Options outstanding with a weighted average exercise price of $20.16. Immediately following the Closing there were 6,371,877 Assumed Options outstanding with a weighted average exercise price of $4.47.</div><div> </div><div>Other than adjustments to the number of shares underlying the Legacy Teamshares Options and the exercise price of each Legacy Teamshares Option, the SPAC Merger did not impact the vesting conditions or any other terms of the Legacy Teamshares Options. The adjustments to Legacy Teamshares Options did not impact the fair value of the awards, and therefore no incremental stock compensation expense was recognized upon the Closing. The Company will continue to account for the Assumed Options in the same manner as the Legacy Teamshares Options. In connection with the completion of the SPAC Merger and the adoption of the 2026 Incentive Award Plan, no further awards will be granted under the Legacy Teamshares 2020 Equity Incentive Plan.</div><div> </div><div>Earnout Shares</div><div> </div><div>On the Closing Date, 829,097 Earnout Shares with an aggregate fair value of $7.3 million were reserved for employees of the Company that are subject to continuous employment requirements. Employees of the Company that are entitled to receive Earnout Shares must remain continuously employed from the Closing Date through immediately before an Earnout Share Triggering Event. Due to the continuous employment requirements, Earnout Shares reserved for employees of the Company are classified as equity and recognized in accordance with ASC 718 - Compensation-Stock Compensation. The Closing Date is the grant date for Earnout Shares reserved for employees.</div><div> </div><div>Each Earnout Share Triggering Event is considered a market condition, and the grant-date fair value of the Earnout Shares will be recognized as stock-based compensation expense over the period in which each market condition is expected to be satisfied. The requisite service period will not be adjusted for subsequent changes in the Company’s stock price unless the market condition is satisfied prior to the end of the estimated period, in which case any remaining grant-date fair value will be recognized immediately. </div><div> </div><div>Upon termination of employment, the individual’s Earnout Shares are forfeited and reallocated amongst the remaining holders of Earnout Shares, including both employees and non-employees. Upon forfeiture, any previously recognized stock compensation expense will be reversed during the period of forfeiture. The reallocation of Earnout Shares to remaining employees represents a new grant and the fair value of the reallocated Earnout Shares on the reallocation date will establish the grant-date fair value to be recognized as stock compensation expense over an updated estimated service period. Earnouts reallocated to non-employees are outside the scope of ASC 718, and no further stock compensation expense will be recognized. There were no forfeitures of Earnout Shares during the three months ended June 30, 2026.</div><div> </div><div>Operating Subsidiary Stock Plans</div><div> </div><div>The restricted stock awards issued to Employee Owners (as defined in Note 1 of the audited consolidated financial statements of the Company for the fiscal year ended December 31, 2025 in the Proxy Statement/Prospectus) under the Operating Subsidiary Stock Plans (as defined in Note 15 of the audited consolidated financial statements of the Company for the fiscal year ended December 31, 2025 in the Proxy Statement/Prospectus) were not impacted by the SPAC Merger.</div><div> </div><div>2026 Incentive Award Plan</div><div> </div><div>On June 18, 2026, the Company’s board of directors ratified and approved the Teamshares Inc. 2026 Incentive Award Plan (the “2026 Incentive Plan”) under which the Company and its affiliates may grant cash and equity incentive awards to its eligible service providers in order to attract and retain key personnel. The initial share reserve under the 2026 Incentive Plan is 5,039,004 shares, which generally is equal to 7% of the number of shares of Company Common Stock outstanding immediately following the Closing, with an annual increase on January 1 of each year from 2027 through 2036 equal to (i) </div><div>4% of the aggregate number of shares of Company Common Stock outstanding on the final day of the immediately preceding calendar year, or (ii) such smaller number of shares as determined by the Company’s board of directors. </div><div> </div><div>Awards available under the 2026 Incentive Plan include stock options, stock appreciation rights, restricted stock, restricted stock units, and other equity-based awards. As of June 30, 2026, no awards have been granted under the 2026 Incentive Plan.</div><div> </div><div>Employee Stock Purchase Plans</div><div> </div><div>On June 18, 2026, the Company’s board of directors ratified and approved the Teamshares Inc. 2026 Employee Stock Purchase Plan (the “2026 ESPP”). The 2026 ESPP became effective upon the Closing. The initial share reserve under the 2026 ESPP is 1,439,715 shares, with an annual increase on January 1 of each year from 2027 through 2036 equal to (i) 1% of the aggregate number of shares of Company Common Stock outstanding on the final day of the immediately preceding calendar year, or (ii) such smaller number of shares as determined by the Company’s board of directors.</div><div> </div><div>Under the terms of the 2026 ESPP, the plan administrator may, from time to time, grant or provide for the grant of rights to purchase shares under the 2026 ESPP by eligible employees of the Company during one or more periods selected by the administrator. As of June 30, 2026, no such grants have occurred, and no shares have been purchased under the 2026 ESPP.</div>

<div style="margin-bottom:12pt;margin-top:6pt">During the three and six months ended June 30, 2026 and 2025, the Company recognized stock compensation expense as follows (dollars in thousands): </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Three Months Ended</td><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Teamshares Inc. awards</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">444 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">573 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,071 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,184 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Earnout Shares</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">301 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">301 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Operating Subsidiary Stock Plans</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">334 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">391 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">644 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">766 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total stock compensation expense</td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,079 </td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">964 </td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">2,016 </td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">1,950 </td><td style="background-color:#ffffff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

444000

573000

1071000

1184000

301000

334000

391000

644000

766000

1079000

964000

2016000

1950000

4.510 4.510

1412833

20.16

6371877

4.47

829097 7300000

5039004

0.07

0.04

1439715

0.01

<div style="margin-top:18pt">NOTE 14 — Earnings (Loss) Per Share</div><div style="margin-bottom:12pt;margin-top:6pt">Basic Earnings (Loss) Per Share is computed by dividing Net Income (Loss) Attributable to Common Stockholders by the weighted average number of common shares outstanding during the period. Deferred Founder Shares are considered to be participating securities because they are contractually entitled to participate in dividends declared by the Company on a one for one basis. Therefore, the Company applies the two-class method in calculating its Earnings (Loss) per share for periods when the Company generates net income. Under the two-class method, earnings of the Company are allocated between common stockholders and participating securities based on the weighted-average number of shares of common stock and participating securities outstanding during the relevant period. Net losses are not allocated to Deferred Founder Shares, as they are not contractually obligated to share in the Company’s losses. </div><div style="margin-bottom:12pt">Diluted Earnings (Loss) Per Share is computed by dividing Net Income (Loss) Attributable to Common Stockholders by the weighted average number of common and dilutive common equivalent shares outstanding for the period using the treasury-stock method or the as-converted method, or the two-class method for participating securities, whichever is more dilutive. Potentially dilutive shares are comprised of Earnout Shares, Deferred Founder Shares, Assumed Warrants, and Assumed Options. For the six months ended June 30, 2026, and the three and six months ended June 30, 2025, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the Company’s net loss and potentially dilutive shares being anti-dilutive. For the three months ended June 30, 2026 Earnout Shares and Deferred Founder Shares are excluded from the diluted earnings per share denominator because none of the share price targets have been achieved as of June 30, 2026 (see Note 11), and Assumed Warrants have been excluded from the diluted earnings per share denominator because the average price of Company Common Stock during the period in which the Assumed Warrants were outstanding was less than the Assumed Warrant’s exercise price, and therefore including the Assumed Warrants would be anti-dilutive.</div><div style="margin-bottom:12pt">During the six months ended June 30, 2026 and 2025, the Company repurchased certain Rollover Shares. The difference between the carrying value and the repurchase value on the repurchase date has been included as an adjustment to Income (Loss) Attributable to Common Stockholders. </div><div style="margin-bottom:12pt">A reconciliation of the numerator and denominator used in the calculation of basic and diluted Earnings (Loss) per share for the three and six months ended June 30, 2026 and 2025 is as follows (dollars in thousands, except per share data):</div><div style="margin-bottom:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Three Months Ended</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Numerator:</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-7.21pt;vertical-align:top">Net Income (Loss) Attributable to Teamshares Inc.</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9,168 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(12,838)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(13,709)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(34,167)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-7.21pt;vertical-align:top">Allocation to Participating Securities</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(39)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-7.21pt;vertical-align:top">Rollover Share adjustments</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">64 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">65 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 48.37pt;text-align:left;text-indent:-7.2pt;vertical-align:top">Net Income (Loss) Attributable to Common Stockholders</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9,129 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(12,838)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(13,645)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(34,102)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Denominator:</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-7.21pt;vertical-align:top">Basic - Weighted Average Shares Outstanding</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">52,239,212 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">49,119,816 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">50,709,492 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">49,084,044 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-7.21pt;vertical-align:top">Effect of Dilutive Securities:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-7.21pt;vertical-align:top">Assumed Options</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,195,772 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-7.21pt;vertical-align:top">Diluted - Weighted Average Common Shares Outstanding</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">55,434,983 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">49,119,816 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">50,709,492 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">49,084,044 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Basic Earnings (Loss) Per Share Attributable to Common Stockholders</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">0.17 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.26)</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.27)</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.69)</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Diluted Earnings (Loss) Per Share Attributable to Common Stockholders</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">0.16 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.26)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.27)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.69)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt">The following potentially dilutive securities were excluded from the calculation of Diluted Earnings (Loss) Per Share Attributable to Common Stockholders for the periods presented because the impact of including them would have been anti-dilutive or because the relevant share price targets had not been achieved as of the reporting date: </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Three Months Ended</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Earnout Shares</td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,000,000 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,000,000 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Deferred Founder Shares</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,674,781 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,674,781 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Assumed Warrants</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,000,000 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,000,000 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Assumed Options</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,288,104 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,371,877 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,288,104 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-10pt;vertical-align:top">Total</td><td colspan="2" style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">23,674,781 </td><td style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,288,104 </td><td style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">30,046,658 </td><td style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,288,104 </td><td style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>Earnings (Loss) per share calculations and potentially dilutive security amounts for all periods prior to the Closing have been retrospectively adjusted to the equivalent number of shares outstanding immediately after the SPAC Merger to effect the reverse recapitalization. Historically reported weighted average shares outstanding have been multiplied by the Exchange Ratio.

<div style="margin-bottom:12pt">A reconciliation of the numerator and denominator used in the calculation of basic and diluted Earnings (Loss) per share for the three and six months ended June 30, 2026 and 2025 is as follows (dollars in thousands, except per share data):</div><div style="margin-bottom:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Three Months Ended</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Numerator:</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-7.21pt;vertical-align:top">Net Income (Loss) Attributable to Teamshares Inc.</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9,168 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(12,838)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(13,709)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(34,167)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-7.21pt;vertical-align:top">Allocation to Participating Securities</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(39)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-7.21pt;vertical-align:top">Rollover Share adjustments</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">64 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">65 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 48.37pt;text-align:left;text-indent:-7.2pt;vertical-align:top">Net Income (Loss) Attributable to Common Stockholders</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">9,129 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(12,838)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(13,645)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(34,102)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Denominator:</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-7.21pt;vertical-align:top">Basic - Weighted Average Shares Outstanding</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">52,239,212 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">49,119,816 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">50,709,492 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">49,084,044 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-7.21pt;vertical-align:top">Effect of Dilutive Securities:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-7.21pt;vertical-align:top">Assumed Options</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">3,195,772 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-7.21pt;vertical-align:top">Diluted - Weighted Average Common Shares Outstanding</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">55,434,983 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">49,119,816 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">50,709,492 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">49,084,044 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Basic Earnings (Loss) Per Share Attributable to Common Stockholders</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">0.17 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.26)</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.27)</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.69)</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Diluted Earnings (Loss) Per Share Attributable to Common Stockholders</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">0.16 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.26)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.27)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(0.69)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

9168000

-12838000

-13709000

-34167000

39000

0 0 64000 65000

9129000

-12838000

-13645000

-34102000

52239212

49119816

50709492

49084044

3195772

55434983

49119816

50709492

49084044

0.17

-0.26

-0.27

-0.69

0.16

-0.26

-0.27

-0.69

<div style="margin-bottom:12pt">The following potentially dilutive securities were excluded from the calculation of Diluted Earnings (Loss) Per Share Attributable to Common Stockholders for the periods presented because the impact of including them would have been anti-dilutive or because the relevant share price targets had not been achieved as of the reporting date: </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:44.354%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.085%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Three Months Ended</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="9" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended</td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td><td colspan="3" style="border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Earnout Shares</td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,000,000 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,000,000 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Deferred Founder Shares</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,674,781 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,674,781 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Assumed Warrants</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,000,000 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,000,000 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Assumed Options</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">— </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,288,104 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,371,877 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,288,104 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-10pt;vertical-align:top">Total</td><td colspan="2" style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">23,674,781 </td><td style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,288,104 </td><td style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">30,046,658 </td><td style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">6,288,104 </td><td style="background-color:#cceeff;border-bottom:1pt solid #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

6000000

1674781

16000000

6288104

6371877

6288104

23674781

6288104

30046658

6288104

<div style="margin-bottom:6pt;margin-top:18pt">NOTE 15 — Segment Reporting and Geographic Information</div><div style="margin-bottom:12pt">The Company has one reportable segment: small-to-medium-sized enterprises (“SME”). The SME reportable segment was previously referred to as “Small Business Acquisitions” in the audited consolidated financial statements of the Company for the fiscal year ended December 31, 2025 in the Proxy Statement/ Prospectus. The chief operating decision maker (“CODM”) is the Company’s Chief Executive Officer. </div><div style="margin-bottom:12pt">SME includes all of the Operating Subsidiaries owned by the Company. The Company’s CODM regularly reviews Operating Subsidiary performance in the aggregate for the purpose of making operating decisions, allocating resources, and evaluating financial performance. </div><div style="margin-bottom:12pt">The CODM also regularly reviews the performance of other products and services that the Company offers to Operating Subsidiaries. These products primarily consist of the Company’s self-funded health insurance and business insurance programs that certain Operating Subsidiaries utilize, and the Company’s portfolio of real estate assets are owned by the Company and leased to Operating Subsidiaries on an intercompany basis. The insurance premiums and rent payments that are paid to the Company by Operating Subsidiaries are eliminated in consolidation. None of the financial products that are regularly reviewed by the CODM meet the quantitative criteria to be disclosed as a reportable segment as of June 30, 2026.</div><div style="margin-bottom:12pt">Prior to March 31, 2026, the Real Estate operating segment met the quantitative criteria to be disclosed as a reportable segment. Real Estate includes land and buildings that are owned by the Company and leased to Operating Subsidiaries on an intercompany basis. Rent payments that are paid to the Company by Operating Subsidiaries are eliminated in consolidation. The Company sold substantially all of its Real Estate segment during the year ended December 31, 2025 in connection with the Sale Leaseback. See Note 2 of the audited consolidated financial statements of the Company for the fiscal year ended December 31, 2025 in the Proxy Statement/Prospectus. Real Estate no longer meets the quantitative criteria to be disclosed as a reportable segment as of June 30, 2026, and therefore is included within All Other Operating Segments in the disclosures below. All prior periods have been recast accordingly.</div><div style="margin-bottom:12pt">The CODM measures and evaluates segment performance and allocates resources based on segment earnings before interest, taxes, depreciation, and amortization (“Segment EBITDA”). Segment EBITDA includes revenues from external customers and revenues and associated expenses from transactions with other operating segments of the Company. Segment expense categories include Cost of Revenue (excluding depreciation), Selling, General, and Administrative Expenses, and other non-operating (income) expense. </div><div style="margin-bottom:12pt">The CODM is not regularly provided with segment assets or segment expenditures for long-lived assets, as these metrics are not used to assess segment performance. The accounting policies of the SME reportable segment are the same as those </div><div style="margin-bottom:12pt">described in Note 2 of the audited consolidated financial statements of the Company for the fiscal year ended December 31, 2025 in the Proxy Statement/Prospectus. </div><div style="margin-bottom:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.869%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.113%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">(dollars in thousands)</td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Three Months Ended June 30, 2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended June 30, 2026</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Revenue from External Customers</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">148,660 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">269,699 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Cost of Revenue, Excluding Depreciation</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">87,404 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">160,594 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Selling, General, and Administrative Expense</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">41,508 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">80,441 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Other Non-Operating Income</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(316)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(529)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-6.49pt;vertical-align:top">SME Segment EBITDA</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">20,064 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">29,193 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less:</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Depreciation</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,717)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,861)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Amortization</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,719)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(3,423)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Stock Compensation Expense</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,079)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,016)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Loss on Disposition of Assets</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(334)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(131)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Interest Expense, Net</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(10,167)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(25,531)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Change in Fair Value of Earnout Shares and Deferred Founder Shares</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">24,884 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">24,884 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Change in Fair Value of Forward Purchase Agreement Liability</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(5,003)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(5,003)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Loss on the Conversion of SAFE Notes</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,175)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,175)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Change in Fair Value of Warrant Liability</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">380 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">421 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Change in Fair Value of Contingent Consideration</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(889)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(886)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Other Non-Operating Expense</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(213)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(130)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">All Other Operating Segments</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(457)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(600)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Corporate, Other Expenses, and Eliminations</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(11,447)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(24,032)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-6.49pt;vertical-align:top">Income (Loss) Before Income Taxes</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">10,127 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(12,291)</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.869%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.113%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">(dollars in thousands)</td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Three Months Ended June 30, 2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Revenue from External Customers</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">123,574 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">226,118 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less:</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Cost of Revenue, Excluding Depreciation</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">74,460 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">137,915 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Selling, General, and Administrative Expense</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">35,543 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">69,601 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Other Non-Operating Income</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(98)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(400)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-6.49pt;vertical-align:top">SME Segment EBITDA</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">13,669 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">19,001 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less:</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Depreciation</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,403)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,822)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Amortization</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,469)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,882)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Goodwill Impairment</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(3,845)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(6,826)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Stock Compensation Expense</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(964)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,950)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Loss on Disposition of Assets</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(415)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(850)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Interest Expense, Net</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(7,785)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15,089)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Change in Fair Value of Warrant Liability</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">109 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">434 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Change in Fair Value of Contingent Consideration</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(437)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(260)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Other Non-Operating Income (Expense)</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">71 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,082)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">All Other Operating Segments</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">713 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,314 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Corporate, Other Expenses, and Eliminations</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(10,988)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(21,941)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-6.49pt;vertical-align:top">Loss Before Income Taxes</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(12,745)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(33,953)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-top:18pt">Geographic Information </div><div style="margin-bottom:12pt;margin-top:6pt">Revenue is attributed to a geographic region based on the location of the customer taking possession of the products or services. Long-lived assets are attributed to the geographic region based on the physical location of the assets. </div><div style="margin-bottom:12pt">A summary of the Company’s Revenue and Long-lived assets as of the three and six months ended June 30, 2026 is as follows: </div><div style="margin-bottom:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.727%"><tr><td style="width:1.0%"></td><td style="width:57.194%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.420%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.420%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.390%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Revenue</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Long-lived Assets</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Three Months Ended June 30, 2026</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended June 30, 2026</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">United States</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">133,660 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">241,734 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">110,974 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">International</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,001 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">27,965 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,163 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">148,660 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">269,699 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">127,138 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt">A summary of the Company’s Revenue for the three and six months ended June 30, 2025 and Long-lived assets as of year ended December 31, 2025 is as follows: </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Revenue</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Long-lived Assets</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Three Months Ended June 30, 2025</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended June 30, 2025</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">December 31, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">United States</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">117,933 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">217,484 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">107,239 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">International</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,641 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,634 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,389 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">123,574 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">226,118 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">123,628 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>Long-lived assets include Property, Plant, and Equipment, Net and Operating Lease Right of Use Assets, Net.

The accounting policies of the SME reportable segment are the same as those <div style="margin-bottom:12pt">described in Note 2 of the audited consolidated financial statements of the Company for the fiscal year ended December 31, 2025 in the Proxy Statement/Prospectus. </div><div style="margin-bottom:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.869%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.113%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">(dollars in thousands)</td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Three Months Ended June 30, 2026</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended June 30, 2026</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Revenue from External Customers</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">148,660 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">269,699 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less:</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Cost of Revenue, Excluding Depreciation</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">87,404 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">160,594 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Selling, General, and Administrative Expense</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">41,508 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">80,441 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Other Non-Operating Income</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(316)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(529)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-6.49pt;vertical-align:top">SME Segment EBITDA</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">20,064 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">29,193 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less:</td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Depreciation</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,717)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,861)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Amortization</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,719)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(3,423)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Stock Compensation Expense</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,079)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,016)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Loss on Disposition of Assets</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(334)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(131)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Interest Expense, Net</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(10,167)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(25,531)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Change in Fair Value of Earnout Shares and Deferred Founder Shares</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">24,884 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">24,884 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Change in Fair Value of Forward Purchase Agreement Liability</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(5,003)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(5,003)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Loss on the Conversion of SAFE Notes</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,175)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,175)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Change in Fair Value of Warrant Liability</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">380 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">421 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Change in Fair Value of Contingent Consideration</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(889)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(886)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Other Non-Operating Expense</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(213)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(130)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">All Other Operating Segments</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(457)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(600)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Corporate, Other Expenses, and Eliminations</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(11,447)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(24,032)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-6.49pt;vertical-align:top">Income (Loss) Before Income Taxes</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">10,127 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(12,291)</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:65.869%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.112%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:15.113%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:left;vertical-align:bottom">(dollars in thousands)</td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Three Months Ended June 30, 2025</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended June 30, 2025</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Revenue from External Customers</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">123,574 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">226,118 </td><td style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less:</td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Cost of Revenue, Excluding Depreciation</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">74,460 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">137,915 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Selling, General, and Administrative Expense</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">35,543 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">69,601 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Other Non-Operating Income</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(98)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(400)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-6.49pt;vertical-align:top">SME Segment EBITDA</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">13,669 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">19,001 </td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Less:</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Depreciation</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,403)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,822)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Amortization</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,469)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,882)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Goodwill Impairment</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(3,845)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(6,826)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Stock Compensation Expense</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(964)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(1,950)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Loss on Disposition of Assets</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(415)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(850)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Interest Expense, Net</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(7,785)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(15,089)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Change in Fair Value of Warrant Liability</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">109 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">434 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Change in Fair Value of Contingent Consideration</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(437)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(260)</td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Other Non-Operating Income (Expense)</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">71 </td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(2,082)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">All Other Operating Segments</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">713 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">1,314 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Corporate, Other Expenses, and Eliminations</td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(10,988)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td colspan="2" style="background-color:#cceeff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">(21,941)</td><td style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 28.37pt;text-align:left;text-indent:-6.49pt;vertical-align:top">Loss Before Income Taxes</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(12,745)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">(33,953)</td><td style="background-color:#ffffff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

148660000

269699000

87404000

160594000

41508000

80441000

316000 529000 20064000 29193000

1717000

2861000

1719000

3423000

1079000

2016000

-334000

-131000

10167000

25531000

24884000

-5003000

2175000

-380000

-421000

889000

886000

-213000 -130000

457000

600000

11447000

24032000

10127000

-12291000

123574000

226118000

74460000

137915000

35543000

69601000

98000 400000 13669000 19001000

1403000

2822000

1469000

2882000

3845000

6826000

964000

1950000

-415000

-850000

7785000

15089000

-109000

-434000

437000

260000

71000 -2082000

-713000

-1314000

10988000

21941000

-12745000

-33953000

<div style="margin-bottom:12pt">A summary of the Company’s Revenue and Long-lived assets as of the three and six months ended June 30, 2026 is as follows: </div><div style="margin-bottom:8pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:97.727%"><tr><td style="width:1.0%"></td><td style="width:57.194%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.420%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.388%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.420%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.390%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Revenue</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Long-lived Assets</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Three Months Ended June 30, 2026</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended June 30, 2026</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">June 30, 2026</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">United States</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">133,660 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">241,734 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">110,974 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">International</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">15,001 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">27,965 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,163 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">148,660 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">269,699 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">127,138 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div><div style="margin-bottom:12pt">A summary of the Company’s Revenue for the three and six months ended June 30, 2025 and Long-lived assets as of year ended December 31, 2025 is as follows: </div><div style="margin-bottom:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:100.000%"><tr><td style="width:1.0%"></td><td style="width:58.142%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.081%"></td><td style="width:0.1%"></td><td style="width:0.1%"></td><td style="width:0.406%"></td><td style="width:0.1%"></td><td style="width:1.0%"></td><td style="width:12.084%"></td><td style="width:0.1%"></td></tr><tr><td colspan="3" style="padding:0 1pt"></td><td colspan="9" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Revenue</td><td colspan="3" style="padding:0 1pt"></td><td colspan="3" style="padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">Long-lived Assets</td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Three Months Ended June 30, 2025</td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">For the Six Months Ended June 30, 2025</td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="3" style="background-color:#ffffff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 1pt;text-align:center;vertical-align:bottom">December 31, 2025</td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">United States</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">117,933 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">217,484 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">107,239 </td><td style="background-color:#cceeff;border-top:1pt solid #000000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">International</td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">5,641 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">8,634 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"></td><td colspan="2" style="background-color:#ffffff;padding:2.62pt 0 1.5pt 1pt;text-align:right;vertical-align:bottom">16,389 </td><td style="background-color:#ffffff;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2.62pt 1pt 1.5pt 11pt;text-align:left;text-indent:-10pt;vertical-align:top">Total</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">123,574 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">226,118 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td><td colspan="3" style="background-color:#cceeff;padding:0 1pt"></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 1pt;text-align:left;vertical-align:bottom">$</td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 0 1.5pt 0;text-align:right;vertical-align:bottom">123,628 </td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2.62pt 1pt 1.5pt 0;text-align:right;vertical-align:bottom"></td></tr></table></div>

133660000

241734000

110974000

15001000

27965000

16163000

148660000

269699000

127138000

117933000

217484000

107239000

5641000

8634000

16389000

123574000

226118000

123628000

6000000.0

5500000

500000

8000000.0

7300000

3600000

1800000

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