v3.26.1
Net Income (Loss) Per Share
6 Months Ended
Jun. 30, 2026
Net Income (Loss) Per Share [Abstract]  
NET INCOME (LOSS) PER SHARE

NOTE 10 — NET INCOME (LOSS) PER SHARE

 

The following presents the calculation of basic and diluted income (loss) per share for the three and six months ended June 30, 2026 and 2025:  

 

    For the Three Months Ended
June 30,
    For the Six Months Ended
June 30,
 
    2026     2025     2026     2025  
Basic EPS:                                
Numerator                                
Income (loss) attributable to the Company   $ 24,364,324     $ (28,274,027 )   $ 2,641,594     $ (15,188,220 )
Preferred shares redemption value accretion                       (21,702,737 )
Fair value of ordinary shares issued to preferred shareholders           (513,080,828 )           (513,080,828 )
Fair value of ordinary share warrants issued to preferred shareholders           (15,600,000 )           (15,600,000 )
Excess carrying value of preferred shares repurchased           38,093,537             38,093,537  
Income (loss) attributable to ordinary shareholders     24,364,324       (518,861,318 )     2,641,594       (527,478,248 )
Denominator                                
Weighted-average shares outstanding - basic     530,642,516       431,390,035       528,397,409       286,155,488  
Basic earnings (loss) per share   $ 0.05     $ (1.20 )   $ 0.00     $ (1.84 )
                                 
Diluted EPS:                                
Numerator                                
Income (loss) attributable to ordinary shareholders   $ 24,364,324     $ (518,861,318 )   $ 2,641,594     $ (527,478,248 )
Denominator                                
Weighted-average shares outstanding - basic     530,642,516       431,390,035       528,397,409       286,155,488  
Effect of dilutive securities:                                
Options     6,702,336             11,072,535        
RSAs     203,945             122,173        
RSUs     5,074,073             3,921,475        
Weighted-average common shares outstanding - diluted     542,622,870       431,390,035       543,513,592       286,155,488  
Dilutive earnings (loss) per share   $ 0.04     $ (1.20 )   $ 0.00     $ (1.84 )

 

The following table summarizes potential ordinary shares outstanding that were excluded from the calculation of diluted net loss per ordinary share because their effect would have been anti-dilutive:

 

    For the Three Months Ended
June 30,
    For the Six Months Ended
June 30,
 
    2026     2025     2026     2025  
Options           33,057,765             33,057,765  
RSUs     10,866,488       8,046,477       10,866,488       8,046,477  
Public warrants     9,675,384       9,675,386       9,675,384       9,675,386  
Total potential ordinary shares outstanding     20,541,872       50,779,628       20,541,872       50,779,628