v3.26.1
Net Income (Loss) Per Share
6 Months Ended
Jun. 30, 2026
Net Income (Loss) Per Share [Abstract]  
NET INCOME (LOSS) PER SHARE

NOTE 10 — NET INCOME (LOSS) PER SHARE

 

The following presents the calculation of basic and diluted income (loss) per share for the three and six months ended June 30, 2026 and 2025:  

 

    For the Three Months Ended
June 30,
    For the Six Months Ended
June 30,
 
    2026     2025     2026     2025  
Basic EPS:                                
Numerator                                
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  
Income (loss) attributable to ordinary shareholders     24,364,324       (518,861,318 )     2,641,594       (527,478,248 )
Denominator                                
Weighted-average shares outstanding - basic     530,642,516       431,390,035       528,397,409       286,155,488  
Basic earnings (loss) per share   $ 0.05     $ (1.20 )   $ 0.00     $ (1.84 )
                                 
Diluted EPS:                                
Numerator                                
Income (loss) attributable to ordinary shareholders   $ 24,364,324     $ (518,861,318 )   $ 2,641,594     $ (527,478,248 )
Denominator                                
Weighted-average shares outstanding - basic     530,642,516       431,390,035       528,397,409       286,155,488  
Effect of dilutive securities:                                
Options     6,702,336       –       11,072,535       –  
RSAs     203,945       –       122,173       –  
RSUs     5,074,073       –       3,921,475       –  
Weighted-average common shares outstanding - diluted     542,622,870       431,390,035       543,513,592       286,155,488  
Dilutive earnings (loss) per share   $ 0.04     $ (1.20 )   $ 0.00     $ (1.84 )

 

The following table summarizes potential ordinary shares outstanding that were excluded from the calculation of diluted net loss per ordinary share because their effect would have been anti-dilutive:

 

    For the Three Months Ended
June 30,
    For the Six Months Ended
June 30,
 
    2026     2025     2026     2025  
Options     –       33,057,765       –       33,057,765  
RSUs     10,866,488       8,046,477       10,866,488       8,046,477  
Public warrants     9,675,384       9,675,386       9,675,384       9,675,386  
Total potential ordinary shares outstanding     20,541,872       50,779,628       20,541,872       50,779,628