| Schedule of Condensed Consolidated Statements of Operations and Other Comprehensive (Loss) Income |
The following tables present a breakdown of our expense categories as presented within our condensed consolidated statements of operations and comprehensive income (loss). | | | For the Three Months Ended
June 30, | | | For the Six Months, Ended
June 30, | | | | | 2026 | | | 2025 | | | 2026 | | | 2025 | | | Brokerage and Transaction: | | | | | | | | | | | | | | | | | | Clearing and operation cost | | $ | 28,937,406 | | | $ | 22,489,442 | | | $ | 53,987,682 | | | $ | 37,267,389 | | | Market and data fees | | | 6,616,153 | | | | 5,271,994 | | | | 12,854,700 | | | | 10,340,088 | | | Handling charge expense | | | 8,795,103 | | | | 7,039,280 | | | | 15,899,420 | | | | 10,438,695 | | | Total | | $ | 44,348,662 | | | $ | 34,800,716 | | | $ | 82,741,802 | | | $ | 58,046,172 | | | | | | | | | | | | | | | | | | | | | Technology and Development: | | | | | | | | | | | | | | | | | | Employee compensation benefits | | $ | 15,410,999 | | | | 13,602,455 | | | $ | 32,716,970 | | | $ | 24,819,003 | | | Cloud service fees | | | 4,422,669 | | | | 3,513,522 | | | | 8,616,156 | | | | 6,921,435 | | | System costs | | | 2,323,708 | | | | 2,024,472 | | | | 4,685,072 | | | | 4,324,903 | | | Total | | $ | 22,157,376 | | | $ | 19,140,449 | | | $ | 46,018,198 | | | $ | 36,065,341 | | | | | | | | | | | | | | | | | | | | | Marketing and Branding | | | | | | | | | | | | | | | | | | Advertising and promotions | | $ | 32,559,709 | | | | 22,237,232 | | | $ | 74,272,549 | | | $ | 40,441,568 | | | Free stock promotions | | | 701,410 | | | | 4,828,103 | | | | 6,586,770 | | | | 8,588,422 | | | Employee compensation and benefits | | | 1,785,090 | | | | 3,235,499 | | | | 3,598,056 | | | | 4,261,882 | | | Total | | $ | 35,046,209 | | | $ | 30,300,834 | | | $ | 84,457,375 | | | $ | 53,291,872 | | | | | | | | | | | | | | | | | | | | | General and Administrative | | | | | | | | | | | | | | | | | | Employee compensation and benefits | | $ | 34,525,675 | | | | 38,057,910 | | | $ | 67,319,465 | | | | 61,044,723 | | | Compliance fees | | | 2,726,888 | | | | 1,824,891 | | | | 4,974,674 | | | | 3,319,827 | | | Office related | | | 7,804,029 | | | | 5,805,943 | | | | 15,092,247 | | | | 11,133,823 | | | Professional services | | | 4,133,446 | | | | 3,324,013 | | | | 10,758,024 | | | | 5,776,021 | | | Depreciation and amortization | | | 948,072 | | | | 1,371,063 | | | | 1,880,160 | | | | 2,153,929 | | | Other | | | 1,685,819 | | | | 592,904 | | | | 2,440,802 | | | | 1,169,121 | | | Total | | $ | 51,823,929 | | | $ | 50,976,724 | | | $ | 102,465,372 | | | $ | 84,597,444 | |
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