Basic net income (loss) per share is calculated based on the weighted average common shares outstanding for the period. As a result of the Starz Separation, weighted average common shares outstanding, basic and dilutive, for all periods prior to the Starz Separation, reflect pre-transaction shareholders of Old Lionsgate Class A Shares multiplied by one and twelve one-hundredths (1.12) and pre-transaction shareholders of Old Lionsgate Class B Shares. The LG Studios Flip is reflected as of close of the Starz Separation, May 6, 2025. Basic and diluted net income (loss) per share for the three months ended June 30, 2025 and 2024 is presented below:


	Three Months Ended
	June 30,
		2025		2024
		(Amounts in millions, except per share amounts)
Basic and Diluted Net Income (Loss) Per Common Share:
Numerator:
Net loss from continuing operations		$	(94.0)	$	(87.1)
Less: Accretion of redeemable noncontrolling interest		—		(0.3)
Net loss from continuing operations after accretion of redeemable noncontrolling interest		(94.0)		(87.4)
Net income (loss) from discontinued operations		(14.9)		27.7
Net loss attributable to Lionsgate Studios Corp. shareholders after accretion of redeemable noncontrolling interest		$	(108.9)	$	(59.7)
Denominator:
Weighted average common shares outstanding		272.3		245.6

Basic and diluted net loss per common share - continuing operations		$	(0.35)	$	(0.36)
Basic and diluted net income (loss) per common share - discontinued operations		(0.05)		0.11
Basic and diluted net loss per common share		$	(0.40)	$	(0.24)

As a result of the net loss in the three months ended June 30, 2025 and 2024, the dilutive effect of the share purchase options, RSUs, restricted stock and contingently issuable shares were considered anti-dilutive and, therefore, excluded from diluted net loss per share. The weighted average anti-dilutive shares excluded from the calculation due to the net loss for the three months ended June 30, 2025 totaled 2.4 million (three months ended June 30, 2024 - 4.8 million).

Additionally, for the three months ended June 30, 2025 and 2024, the outstanding common shares issuable presented below were excluded from diluted net income (loss) per common share because their inclusion would have had an anti-dilutive effect regardless of net income or loss in the period:


	Three Months Ended
	June 30,
		2025	2024
		(Amounts in millions)
Anti-dilutive shares issuable
Share purchase options		17.0	13.8
Restricted share units		0.1	—
Other issuable shares		3.3	3.8
Total weighted average anti-dilutive shares issuable excluded from diluted net income (loss) per common share		20.4	17.6