Basic and Diluted Earnings per Share

3 Months Ended

Mar. 31, 2026


Note 18 – Basic and Diluted Earnings per Share

Basic earnings or loss per share excludes common stock equivalents and is calculated by dividing net income or loss attributable to common stockholders by the weighted average number of shares of common stock outstanding during the period. We calculate diluted earnings or loss per share by dividing net income or loss attributable to common stockholders by the weighted average number of shares of common stock outstanding including the potential dilutive shares of common stock related to outstanding restricted stock awards, stock options and warrants as determined using the treasury stock method.


	Three Months Ended March 31,
	2026		2025
Basic earnings per share
Net income attributable to common stockholders	$	6.6	$	21.1

Weighted average shares of common stock outstanding	8,494,823		7,873,989

Basic earnings per share	$	0.78	$	2.68

Diluted earnings per share
Net income attributable to common stockholders	$	6.6	$	21.1

Weighted average shares of common stock outstanding	8,494,823		7,873,989
Effect of dilutive elements
Common stock warrants (1)	—		224,557
Stock option awards	—		36
Common stock awards	487,149		338,292

Dilutive weighted average shares of common stock	8,981,972		8,436,874

Diluted earnings per share	$	0.74	$	2.50

Stock options and common stock awards excluded from the computation of diluted earnings per share
Anti-dilutive (2)	17,799		21,659
Market-based (3)	—		41,520

(1)As of December 31, 2025, there were no remaining common stock warrants outstanding.

(2)Includes stock options and stock awards that are anti-dilutive based on the application of the treasury stock method.

(3)Shares that are issuable upon the achievement of certain market-based performance criteria related to Onity’s stock price.