v3.26.1
Segment Reporting - Schedule of Significant Revenues and Expenses Provided to CODM (Details) - 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
Segment expenses        
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
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)
Chief Operating Decision Maker (CODM) [Member]        
Segment expenses        
Brokerage and transaction 44,348,662 34,800,716 82,741,802 58,046,172
Technology and development [1] 20,573,843 17,554,435 40,309,088 32,980,484
Marketing and branding [1] 34,566,602 29,719,577 83,723,532 52,400,406
General and administrative [1] 36,751,872 26,174,593 74,571,553 53,535,320
Other segment items [2] 17,135,197 26,969,402 34,336,772 35,038,447
Total operating expenses 153,376,176 135,218,723 315,682,747 232,000,829
Operating income (loss) 45,454,904 (3,725,373) 43,076,349 16,861,356
Other expense, net 10,768,430 17,659,796 21,200,591 18,749,213
Provision for income taxes 10,343,085 6,999,777 19,270,241 13,558,002
Equity and Option Order Flow Rebates [Member]        
Revenues        
Total revenues 112,961,852 68,688,838 197,354,691 132,800,020
Interest Related Income [Member]        
Revenues        
Total revenues 42,752,379 36,286,533 82,802,757 67,426,597
Handling Charge Income [Member]        
Revenues        
Total revenues 34,780,092 20,105,503 61,192,834 37,652,513
Other Revenues [Member]        
Revenues        
Total revenues $ 8,336,757 $ 6,412,476 $ 17,408,814 $ 10,983,055
[1] Excludes share-based compensation. See Note 12 -Expenses for operating expense allocation.
[2] Other segment items represent share-based compensation.