Preheat the oven to 350F. Grease the bottom and sides of a 9-inch round springform pan with cooking spray. Line the bottom of the pan with a circle of parchment paper, then spray the paper with a little more cooking spray. Set aside.
Place the chocolate chips and butter in a large microwave safe bowl. Microwave on 50% power for 2-3 minutes, stopping every 30 seconds to stir until completely smooth and melted. You can also melt the butter and chocolate together over low heat on the stove. Set aside to cool.
Add the egg whites and sugar to the bowl of a stand mixer fitted with the whisk attachment. Beat the egg whites and sugar together until they form stiff peaks, about 5-7minutes.
Add the vanilla extract, almond extract and egg yolks to the cooled chocolate mixture. Whisk until smooth. Whisk in the cocoa powder and salt until combined.
Using a rubber spatula, carefully fold ⅓ of the egg whites into the chocolate mixture to loosen it up. Add the remaining egg whites and carefully fold them in, keeping as much air as possible.
Pour the cake batter into the prepared pan. Bake for 40-45 minutes until the surface is cracked and dry. A toothpick inserted in the center will have a few moist crumbs.
Remove from the oven and immediately slide a knife around the edges of the pan. Let the cake cool for 10-15 minutes. Then run a knife around the sides of the pan again and loosen the cake and remove the springform pan. Transfer the cake to a serving plate to cool completely.
Note: The cake will collapse in the center as it cools. This is normal and expected!
Dust with cocoa powder. Slice and enjoy!