(12) Net Income (Loss) Per Share

The following table sets forth the computations of basic and diluted net income (loss) per share attributable to common stockholders (in thousands, except for per share amounts):

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For the three and six months ended June 30, 2026, the Company’s Public and Private Warrants (Refer to Note 6 for Public and Private Warrants) were in-the-money for purposes of computing diluted net loss per share.  For the three months ended June 30, 2026, the losses resulting from the change in the fair value of the underlying derivative warrant liabilities were not excluded from the calculation of diluted net loss per share because the impact was anti-dilutive. For the six months ended June 30, 2026, the gains resulting from the change in the fair value of the underlying derivative warrant liabilities were excluded from the calculation of diluted net loss per share because the impact was dilutive, resulting in a loss for the period. For the six months ended June 30, 2026, the potential common shares resulting from the exercise of the Public and Private Warrants were not included in the denominator for purposes of calculating diluted net loss per share because the impact was anti-dilutive. For the three and six months ended June 30, 2025, the Company’s Public and Private Warrants were out-of-the-money and did not have an impact on the calculation of diluted net loss per share.

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As of December 31, 2025, all of the Sponsor Vesting Shares were vested (Refer to Note 7 for Sponsor Vesting Shares and Earn-out liabilities). For the three and six months ended June 30, 2026, the Sponsor Vesting Shares have been included in the computations of basic and diluted net loss per share from the beginning of the period.

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The vesting condition for the Promote Sponsor Vesting Shares was satisfied on February 6, 2025. As of June 30, 2025, the vesting condition for the Sponsor Redemption-Based Vesting shares remained unsatisfied. The underlying gain from the change in the fair value of the Promote Sponsor Vesting Shares has been excluded from the calculation of diluted net loss per share for the six months ended June 30, 2025 due to resolution of the contingency, resulting in a net loss for purposes of the computation. For the three and six months ended June 30, 2025, the Promote Sponsor Vesting Shares have been included in the computations of basic and diluted net income (loss) per share from the February 6, 2025 vesting date. The Promote Sponsor Vesting Shares were not included in the calculation of diluted net loss per share for the six months ended June 30, 2025 from the beginning of the period (January 1, 2025) because their effect would be anti-dilutive.  For the three and six months ended June 30, 2025, the number of Sponsor Vesting Shares excluded from the computations of basic and diluted net income (loss) per share because the vesting conditions had not been satisfied totaled 580,273 shares.

The weighted-average common shares outstanding for the three and six months ended June 30, 2026 include 315,518 weighted-average shares for warrants having an exercise price of $0.01 per share each. The weighted-average common shares outstanding for the three and six months ended June 30, 2025 include 777,240 and 784,368 weighted-average shares for warrants having an exercise price of $0.01 per share each, respectively. The Company excluded the following potentially dilutive securities from the computations of diluted net loss per share for the three and six months ended June 30, 2026 and June 30, 2025 because their effect would be anti-dilutive:

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