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Share-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Compensation [Abstract]

Schedule of Weighted Average of Significant Assumptions

The following are the weighted average of significant assumptions used in the model:

		2025				2024				2023
Dividend yield			0	%			0	%			0	%
Risk-free interest rate			1.6	%			2.3	%			3.8	%
Expected volatility(1)			35.5	%			59.8	%			50.0	%
Expected term			2.75 years				2.75 years				2.75 years

(1) Expected volatility of the underlying ordinary shares of the Company was estimated based on the average historical volatility of comparable companies for the period before grant date with time frames equal to the life of the options.

Schedule of Option Activity

A summary of the Share Option activity for the year ended December 31, 2025 is as follows:

		Options				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life				Aggregate Intrinsic Value
										(in Years)
Outstanding at January 1, 2025			32,490,744			$	0.13				5.26			$	304,071,390
Granted			833,889			$	0.14
Exercised			(21,580,475	)		$	0.14
Cancelled/forfeited			(580,380	)		$	0.14
Outstanding at December 31, 2025			11,163,778			$	0.14				5.97			$	84,588,262
Exercisable at December 31, 2025			8,187,122			$	0.14				5.25			$	61,876,911

Schedule of Non-Vested Share Option Activity

The following is a summary of the non-vested Share Option activity for the year ended December 31, 2025:

		Options				Weighted Average Grant-Date Fair Value
Non-vested at January 1, 2025			6,808,475			$	5.21
Granted			833,889			$	9.67
Vested			(4,144,539	)		$	4.90
Cancelled/forfeited			(521,172	)		$	6.24
Non-vested at December 31, 2025			2,976,656			$	6.72

Schedule of Restricted Share Activity

A summary of the Restricted Share Unit activity for the year ended December 31, 2025, is as follows:

		RSUs				Weighted Average Grant-Date Fair Value
Outstanding at January 1, 2025			7,694,425			$	5.21
Granted			693,764			$	9.62
Cancelled/forfeited			(718,917	)		$	6.76
Shares delivered			(4,051,432	)		$	4.57
Outstanding at December 31, 2025			3,617,840			$	6.45

We granted 2,401,884 and 496,218 RSAs during the years ended December 31, 2025 and 2024, respectively. We did not grant any RSAs during 2023. A summary of the Restricted Share Award activity for the year ended December 31, 2025, is as follows:

		RSAs				Weighted Average Grant-Date Fair Value
Outstanding at January 1, 2025			5,678,012			$	3.19
Granted			2,401,884			$	9.61
Cancelled/forfeited			(10,000	)		$	9.62
Vested			(8,069,896	)		$	5.09
Outstanding at December 31, 2025			–			$	–

Schedule of Non-Vested Share Option Unit Activity

The following is a summary of the non-vested Restricted Share Unit activity for the year ended December 31, 2025:

		RSUs				Weighted Average Grant-Date Fair Value
Non-vested at January 1, 2025			4,211,661			$	5.97
Granted			693,764			$	9.62
Vested			(2,354,303	)		$	5.98
Cancelled/forfeited			(463,943	)		$	8.11
Non-vested at December 31, 2025			2,087,179			$	6.74

A summary of the non-vested Restricted Share Award activity for the year ended December 31, 2025, is as follows:

		RSAs				Weighted Average Grant-Date Fair Value
Non-vested at January 1, 2025			1,295,450			$	2.85
Granted			2,401,884			$	9.61
Vested			(3,687,334	)		$	7.24
Cancelled/forfeited			(10,000	)		$	9.62
Non-vested at December 31, 2025			–			$	–

Schedule of Compensation Expense from Share Based Awards

The compensation expense was recorded in the consolidated statement of operations and comprehensive (loss) income as follows:

		2025				2024				2023
General and administrative		$	35,902,434			$	22,269,185			$	19,963,974
Technology and development			5,952,939				8,290,375				7,748,683
Marketing and branding			2,017,526				2,028,051				1,699,228
Total		$	43,872,899			$	32,587,611			$	29,411,885

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Tabular disclosure of the changes in outstanding nonvested shares.

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