Earnings per Share (Tables)

9 Months Ended

Sep. 30, 2026

Schedule of Basic and Diluted Earnings per Share

The following table presents the reconciliation of net income (loss) attributable to common shareholders to net income (loss) used in computing basic and diluted net income (loss) per share of common stock:




	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Numerator:
Net income (loss)	$	4,404	$	(1,054)	$	(413)	$	(2,590)
Less: Deemed dividend(1)	—		—		671		—

Net income (loss) attributable to common shareholders - basic and diluted	$	4,404	$	(1,054)	$	(1,084)	$	(2,590)






Denominator:
Weighted-average shares of common stock outstanding - basic	11,942		2,941		7,274		2,915
Weighted-average shares of common stock equivalents:

Exercise of stock options	457		—		—		—
Conversion of restricted stock units	75		—		—		—
Conversion of ESPPs	1		—		—		—
Weighted-average common stock and common stock equivalents outstanding - diluted	12,475		2,941		7,274		2,915

Net income (loss) per share attributable to common shareholders
Basic	$	0.37	$	(0.36)	$	(0.15)	$	(0.89)
Diluted	$	0.35	$	(0.36)	$	(0.15)	$	(0.89)

__________________

(1)The excess of fair market value over the consideration transferred for the repurchase of SpaceX Redeemable Convertible Preferred Stock was treated as a deemed dividend and resulted in an increase to net loss attributable to common shareholders in the calculation of net loss per share.

Schedule of Potentially Dilutive Securities Excluded from Calculation of Earnings Per Share

The following potentially dilutive securities on an as-converted basis are excluded from the calculation of diluted net income (loss) per share attributable to common shareholders for the periods presented because the impact of including them would be anti-dilutive:




	As of September 30,
		2026	2025
xAI Redeemable Convertible Preferred Stock		—	1,241
SpaceX Redeemable Convertible Preferred Stock		—	6,760
Share-based compensation		19	648