Basic income per share of Class A Common Stock is computed by dividing net earnings attributable to WM Technology, Inc. by the weighted-average number of shares of Class A Common Stock outstanding during the period. Diluted income per share of Class A Common Stock adjusts basic net income per share of Class A Common Stock for the potentially dilutive impact of securities. For warrants that are liability-classified, during periods when the impact is dilutive, the Company assumes share settlement of the instruments as of the beginning of the reporting period and adjusts the numerator to remove the change in fair value of the warrant liability, net of the portion attributable to non-controlling interests, and adjusts the denominator to include the dilutive shares calculated using the treasury stock method.

The computation of income per share attributable to WM Technology, Inc. and weighted-average shares of the Company’s Class A Common Stock outstanding are as follows for the years ended December 31, 2025 and 2024 (amounts in thousands, except for share and per share amounts):


	Years Ended December 31,
	2025		2024
Numerator:
Net income	$	3,263	$	12,187
Less: net income attributable to non-controlling interests after the Business Combination	1,301		4,548



Net income attributable to WM Technology, Inc. Class A Common Stock - basic and diluted	$	1,962	$	7,639
Denominator:
Weighted average shares of Class A Common Stock outstanding - basic	106,572,365		96,254,679
Weighted average effect of dilutive securities:


Restricted stock units¹	1,644,948		847,767
Performance-based restricted stock units	—		858
Weighted average shares of Class A Common Stock outstanding - diluted	108,217,313		97,103,304

Net income per share of Class A Common Stock:
Net income per share of Class A common Stock - basic	$	0.02	$	0.08
Net income per share of Class A common Stock - diluted	$	0.02	$	0.08

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Shares of the Class V Common Stock do not participate in the earnings of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted earnings per share of Class V Common Stock under the two-class method has not been presented. However, shares of the Class V Common Stock outstanding for the period are considered

potentially dilutive shares of Class A common stock under application of the if-converted method and are included in the computation of diluted earnings per share, except when the effect would be anti-dilutive.

The Company excluded the following securities from its computation of diluted shares outstanding for the periods presented, as their effect would have been anti-dilutive:


	Years Ended December 31,
	2025	2024
Class V Shares	47,852,652	54,319,542
Class P Units	13,803,732	14,403,732
RSUs outstanding	4,387,977	6,504,918
PRSUs outstanding	4,342,391	4,342,391
Public Warrants	12,499,973	12,499,973
Private Placement Warrants	7,000,000	7,000,000