Net income per basic share is based upon net income attributable to AMC Networks' stockholders divided by the weighted average number of shares of Class A Common Stock and Class B Common Stock outstanding during the period. Net income per diluted share reflects the dilutive effects, if any, of AMC Networks' outstanding equity-based awards and the assumed conversion of the Company's 4.25% Convertible Senior Notes due 2029 (the "Convertible Notes") issued in June 2024.


(In thousands)	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
Net income (loss) attributable to AMC Networks' stockholders used for basic net income (loss) per share	$	50,289	$	(29,234)	$	68,338	$	16,569
Add: Convertible Notes interest expense, net of tax	1,145		—		2,291		116
Net income (loss) attributable to AMC Networks' stockholders used for diluted net income (loss) per share	$	51,434	$	(29,234)	$	70,629	$	16,685

Basic weighted average common shares outstanding	44,868		44,466		44,845		44,267
Effect of dilution:
Restricted stock units	196		—		351		556
Convertible Notes	11,286		—		11,286		620
Diluted weighted average common shares outstanding	56,350		44,466		56,482		45,443

Net income (loss) per share attributable to AMC Networks' stockholders:
Basic	$	1.12	$	(0.66)	$	1.52	$	0.37
Diluted	$	0.91	$	(0.66)	$	1.25	$	0.37

For the three and six months ended June 30, 2025, 4.2 million of restricted stock units ("RSUs") have been excluded from the diluted weighted average common shares outstanding, as their impact would have been antidilutive.

For the three months ended June 30, 2024, all 3.4 million of our RSUs and the weighted average impact of 11.3 million common shares related to the assumed conversion of the Convertible Notes were excluded from the calculation of diluted net income (loss) per share because their inclusion would have been antidilutive since we reported a net loss.

For the six months ended June 30, 2024, 0.2 million of RSUs have been excluded from the diluted weighted average common shares outstanding, as their impact would have been antidilutive.

The Company's Board of Directors previously authorized a program to repurchase up to $1.5 billion of its outstanding shares of Class A Common Stock (the "Stock Repurchase Program"). The Stock Repurchase Program has no pre-established termination date and may be suspended or discontinued at any time. For the three and six months ended June 30, 2025, the Company repurchased 1.6 million shares of its Class A Common Stock at an average purchase price of $6.48 per share. As of June 30, 2025, the Company had $124.9 million of authorization remaining for repurchase under the Stock Repurchase Program.