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Subsequent Events
6 Months Ended
Jun. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Reverse Stock Split

Following approval by the stockholders of the Company at the annual meeting of stockholders held on May 23, 2025, the Board of Directors of the Company approved the implementation of a 1-for-40 reverse stock split of the Company’s Class A common stock and Class B common stock.

In connection with the above implementation, on July 8, 2025, the Company filed a Certificate of Amendment (the “Certificate of Amendment”) to the Company’s Amended and Restated Certificate of Incorporation, as amended, with the Secretary of State of the State of Delaware to effect the reverse stock split. Pursuant to the Certificate of Amendment, effective as of 5:00p.m. Eastern time on July 8, 2025, every forty shares of Class A common stock and every forty shares of Class B common stock issued and outstanding immediately prior to such time (including treasury shares), were automatically reclassified and combined into one validly issued, fully-paid and nonassessable share of Class A common stock or Class B common stock, respectively, subject to the treatment of fractional shares. The Company’s stockholders who would have otherwise been entitled to a fractional share of Class A or Class B common stock in the reverse stock split were entitled a cash payment (without interest) in lieu thereof.

As a result of the reverse stock split, the disclosures relating to the Class A and Class B common stock within this Quarterly Report have been retrospectively adjusted to reflect a post reverse stock split balance, including net income (loss) per share information.

One Big Beautiful Bill Act

On July 4, 2025, the U.S. government enacted The One Big Beautiful Bill Act of 2025 which includes, among other provisions, changes to the U.S. corporate income tax system including the allowance of immediate expensing of qualifying research and development expenses and permanent extensions of certain provisions within the Tax Cuts and Jobs Act. Certain provisions are effective beginning in 2026. The Company is evaluating the future impact of these tax law changes on our financial statements.