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Earnings Per Share | 6 Months Ended
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Jun. 30, 2026
Earnings Per Share [Abstract] |
Earnings Per Share | Note 13. Earnings per share All weighted-average shares outstanding and earnings (loss) per share amounts presented herein have been retroactively adjusted to reflect the Reverse Stock Split effected on July 2, 2026. See Note 2. Significant accounting policies and recent accounting pronouncements for further information on the Reverse Stock Split. Basic and diluted net (loss) income per share attributable to common stockholders is computed in accordance with Note 2. Significant accounting policies and recent accounting pronouncements – Net (loss) income per share attributable to common stockholders of the Notes to the Combined Financial Statements for the year ended December 31, 2025. The following table presents potentially dilutive securities that were not included in the computation of diluted net (loss) income per share of common stock as their inclusion would have been anti-dilutive and/or their issuance upon satisfying a contingency, if applicable, was not satisfied or deemed satisfied as of period end:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Akerna Common Warrants |  |  | 1,449 |  |  |  | — |  |  |  | 1,449 |  |  |  | — |
Akerna Underwriter Warrants |  |  | 72 |  |  |  | — |  |  |  | 72 |  |  |  | — |
Restricted stock units |  |  | 128,549 |  |  |  | — |  |  |  | 128,549 |  |  |  | — |
Total |  |  | 130,070 |  |  |  | — |  |  |  | 130,070 |  |  |  | — |
The following is a reconciliation of the denominator of the basic and diluted net (loss) income per share of common stock computations for the periods presented:
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
(in USD thousands, except share and per share amounts) |  | 2026 |  |  | 2025 |  |  | 2026 |  |  | 2025 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net (loss) income – basic |  | $ | (57,151 | ) |  | $ | 3,431 |  |  | $ | (138,943 | ) |  | $ | (97,192 | )
Gryphon warrants revaluation included in net (loss) income (net of income tax benefit)(1) |  |  | (17 | ) |  |  | — |  |  |  | (72 | ) |  |  | — |
Net (loss) income – diluted |  | $ | (57,168 | ) |  | $ | 3,431 |  |  | $ | (139,015 | ) |  | $ | (97,192 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares of Class A common stock |  |  | 22,667,057 |  |  |  | 10,635,825 |  |  |  | 20,863,503 |  |  |  | 10,635,825 |
Weighted average shares of Class B common stock |  |  | 48,814,987 |  |  |  | 48,814,987 |  |  |  | 48,814,987 |  |  |  | 48,814,987 |
Total weighted average shares of common stock outstanding – basic |  |  | 71,482,044 |  |  |  | 59,450,812 |  |  |  | 69,678,490 |  |  |  | 59,450,812 |
Dilutive impact of Gryphon Warrants |  |  | 5,364 |  |  |  | — |  |  |  | 2,697 |  |  |  | — |
Total weighted average shares of common stock outstanding – diluted |  |  | 71,487,408 |  |  |  | 59,450,812 |  |  |  | 69,681,187 |  |  |  | 59,450,812 |
Net (loss) income per share of common stock: |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.80 | ) |  | $ | 0.06 |  |  | $ | (1.99 | ) |  | $ | (1.63 | )
Diluted |  | $ | (0.80 | ) |  | $ | 0.06 |  |  | $ | (2.00 | ) |  | $ | (1.63 | )
(1) Calculated as the net adjustment from warrant liability fair value remeasurement from Gryphon Warrants, net of tax |  |  |  |

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