| Net Income (Loss) per Share |
14.Net Income (Loss) per Share
The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders (in thousands, except share and per share amounts):
|
|
|
|
|
|
|
|
|
|
|
Year Ended December 31, |
|
|
|
2025 |
|
|
2024 |
|
Numerator: |
|
|
|
|
|
|
Net income (loss) |
|
$ |
51,305 |
|
|
$ |
(103,359 |
) |
Income allocated to participating Securities Purchase Agreement Warrants |
|
|
(111 |
) |
|
|
— |
|
Basic net income (loss) attributable to common stockholders |
|
|
51,194 |
|
|
|
(103,359 |
) |
Removal of mark-to-market adjustment for 2022 Blue Torch Warrants |
|
|
(1,472 |
) |
|
|
— |
|
Removal of mark-to-market adjustment for 2023 Blue Torch Warrants |
|
|
(2,135 |
) |
|
|
— |
|
Adjustment to income allocated to participating Securities Purchase Agreement Warrants |
|
|
(6 |
) |
|
|
— |
|
Dilutive net income (loss) attributable to common stockholders |
|
$ |
47,581 |
|
|
$ |
(103,359 |
) |
Denominator: |
|
|
|
|
|
|
Weighted-average Class A common stock outstanding - basic |
|
|
30,910,259 |
|
|
|
24,159,770 |
|
Effect of dilutive securities: |
|
|
|
|
|
|
Stock Options |
|
|
91,944 |
|
|
|
— |
|
RSUs |
|
|
715,953 |
|
|
|
— |
|
2022 Blue Torch Warrants |
|
|
98,339 |
|
|
|
— |
|
2023 Blue Torch Warrants |
|
|
134,355 |
|
|
|
— |
|
Weighted-average Class A common stock outstanding - diluted |
|
|
31,950,850 |
|
|
|
24,159,770 |
|
Class A common stock: |
|
|
|
|
|
|
Net income (loss) per share - basic |
|
$ |
1.66 |
|
|
$ |
(4.28 |
) |
Net income (loss) per share - diluted |
|
$ |
1.49 |
|
|
$ |
(4.28 |
) |
The following securities were not included in the computation of diluted net income (loss) per share because their effect would be anti-dilutive or the issuance of such shares is contingent upon the satisfaction of certain conditions that were not met by the end of the period (share amounts):
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
2024 |
|
Stock options |
|
|
1,458,352 |
|
|
|
1,978,557 |
|
RSUs, PSUs, and Potential ESPP Shares |
|
|
900,068 |
|
|
|
2,785,389 |
|
Credit Agreement Warrants |
|
|
24,834 |
|
|
|
1,058,940 |
|
Contingent Earnout Shares |
|
|
912,600 |
|
|
|
— |
|
|
|
|
3,295,854 |
|
|
|
5,822,886 |
|
|