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Net Income (Loss) Per Share | 6 Months Ended
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Jun. 30, 2025
Net Income (Loss) Per Share |
Net Income (Loss) Per Share | (13) Net Income (Loss) Per Share The following table presents the calculations of basic and diluted net income (loss) per share attributable to common stockholders (in thousands, except for per share amounts): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended June 30, | ​ | Six Months Ended June 30,
​ |  | 2025 |  | 2024 |  | 2025 |  | 2024
Numerator: |  |  | ​ | ​ | ​ |  |  |  | ​ | ​ | ​ |
Net income (loss) used in basic computation | ​ | $ | (39,654) | ​ | $ | (12,421) |  | $ | 2,965 | ​ | $ | (33,194)
Less: Vesting of Promote Sponsor Vesting Shares | ​ | ​ | — | ​ | ​ | — | ​ | ​ | (4,363) | ​ | ​ | —
Net loss used in diluted computation | ​ | $ | (39,654) | ​ | $ | (12,421) | ​ | $ | (1,398) | ​ | $ | (33,194)
Denominator: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted-average shares outstanding - basic and diluted | ​ | ​ | 298,254 | ​ | ​ | 171,903 | ​ | ​ | 291,514 | ​ | ​ | 161,705
Net income (loss) per share - basic | ​ | $ | (0.13) | ​ | $ | (0.07) |  | $ | 0.01 | ​ | $ | (0.21)
Net loss per share - diluted | ​ | $ | (0.13) | ​ | $ | (0.07) | ​ | $ | 0.00 | ​ | $ | (0.21)
​ For each of the three and six months ended June 30, 2025 and each of the three and six months ended June 30, 2024, 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 and 3,059,273 shares, respectively. ​ 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 (Refer to Note 8 for Earn-out liabilities). The underlying gain from the change in the fair value of the Promote Sponsor Vesting Shares has been excluded from the fully-diluted computation 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 computation 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. ​ 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 weighted-average common shares outstanding for each of the three and six months ended June 30, 2024 include 972,578 weighted-average shares for warrants having an exercise price of $0.01 per share each. ​ 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, 2025 and June 30, 2024 because their effect would be anti-dilutive: ​
​ | ​ | ​ | ​ | ​ | ​
​ |  | Six Months Ended June 30, | ​
​ | ​ | 2025 |  | 2024 | ​
Common Stock warrants (1) |  | 14,410,623 |  | 14,450,417 | ​
Stock Options |  | 6,536,637 |  | 9,600,802 | ​
Restricted Stock Units |  | 6,544,122 |  | 8,382,814 | ​
​ |  | 27,491,382 |  | 32,434,033 | ​
(1) | The number of outstanding warrants as of both June 30, 2025 and June 30, 2024 does not include 1,340,310 unvested Customer Warrants.

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