v3.26.1
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenues        
Total revenues $ 198,831,080 $ 131,493,350 $ 358,759,096 $ 248,862,185
Operating expenses        
Brokerage and transaction 44,348,662 34,800,716 82,741,802 58,046,172
Technology and development 22,157,376 19,140,449 46,018,198 36,065,341
Marketing and branding 35,046,209 30,300,834 84,457,375 53,291,872
General and administrative 51,823,929 50,976,724 102,465,372 84,597,444
Total operating expenses 153,376,176 135,218,723 315,682,747 232,000,829
Other expense, net 10,768,430 17,659,796 21,200,591 18,749,213
Income (loss) before income taxes 34,686,474 (21,385,169) 21,875,758 (1,887,857)
Provision for income taxes 10,343,085 6,999,777 19,270,241 13,558,002
Net income (loss) 24,343,389 (28,384,946) 2,605,517 (15,445,859)
Less net loss attributable to noncontrolling interest (20,935) (110,919) (36,077) (257,639)
Net 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
Net income (loss) attributable to ordinary shareholders $ 24,364,324 $ (518,861,318) $ 2,641,594 $ (527,478,248)
Net income (loss) per share attributable to ordinary shareholders        
Basic (in Dollars per share) $ 0.05 $ (1.2) $ 0 $ (1.84)
Diluted (in Dollars per share) $ 0.04 $ (1.2) $ 0 $ (1.84)
Weighted-average shares outstanding        
Basic (in Shares) 530,642,516 431,390,035 528,397,409 286,155,488
Diluted (in Shares) 542,622,870 431,390,035 543,513,592 286,155,488
Net income (loss) $ 24,343,389 $ (28,384,946) $ 2,605,517 $ (15,445,859)
Other comprehensive income, net of tax:        
Change in cumulative foreign currency translation adjustment 4,603,428 9,212,371 10,282,063 10,954,020
Other comprehensive income 4,603,428 9,212,371 10,282,063 10,954,020
Comprehensive income (loss) 28,946,817 (19,172,575) 12,887,580 (4,491,839)
Less comprehensive loss attributable to noncontrolling interest (20,935) (110,919) (36,077) (257,639)
Less foreign currency translation adjustment attributable to noncontrolling interest (6,894) 12,414 (10,896) (15,713)
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
Comprehensive income (loss) attributable to ordinary shareholders 28,974,646 (509,661,361) 12,934,553 (516,508,515)
Equity and option order flow rebates        
Revenues        
Total revenues 112,961,852 68,688,838 197,354,691 132,800,020
Interest related income        
Revenues        
Total revenues 42,752,379 36,286,533 82,802,757 67,426,597
Handling charge income        
Revenues        
Total revenues 34,780,092 20,105,503 61,192,834 37,652,513
Other revenues        
Revenues        
Total revenues $ 8,336,757 $ 6,412,476 $ 17,408,814 $ 10,983,055