The following table sets forth the computation of basic and diluted loss per share of Class A common stock for the periods presented (amounts in thousands, except share and per share data):


	Three Months Ended
	March 28, 2026		March 29, 2025
Numerator
Net income (loss)	$	3,946	$	(3,322)
Less: Net (income) loss attributable to noncontrolling interest	(833)		685
Net income (loss) attributable to Bioventus Inc. Class A common shareholders	$	3,113	$	(2,637)

Denominator
Basic weighted-average shares of Class A common stock outstanding	67,296,336		66,008,683
Dilutive effects of:
Stock options	1,099,256		—
Restricted stock units(a)	1,612,699		—
Diluted weighted-average shares of Class A common stock outstanding	70,008,291		66,008,683

Net income (loss) per share of Class A common stock—basic	$	0.05	$	(0.04)
Net income (loss) per share of Class A common stock—diluted	$	0.04	$	(0.04)

Shares of Class B common stock do not share in the losses of the Company and are therefore not participating securities. As such, separate presentation of basic and diluted losses per share of Class B common stock under the two-class method have not been presented.

The following number of weighted-average potentially dilutive shares were excluded from the calculation of diluted net income (loss) per share because the effect of including such potentially dilutive shares would have been antidilutive upon conversion:


	Three Months Ended
	March 28, 2026	March 29, 2025
LLC Interests held by Continuing LLC Owner(a)	15,786,737	15,786,737
Stock options(b)	2,303,205	1,833,481
Restricted stock units(c)	390,805	28,625
Total	18,480,747	17,648,843

(a)Shares of Class A common stock reserved for future issuance upon redemption or exchange of LLC Interests by the Continuing LLC Owner. LLC Interests are neither dilutive nor antidilutive for the periods presented as the assumed redemption for shares of Class A common stock would cause a proportionate increase to net income (loss) attributable to Class A common shareholders—diluted.

(b)Options with exercise prices greater than the average market price of our Class A common stock are excluded from the computation of diluted net income (loss) per share because they are out-of-the-money.

(c)A portion of the restricted stock units and performance restricted stock units are considered antidilutive under the treasury stock method as the number of shares that could be purchased with the assumed proceeds of the restricted stock units exceed the total amount of the underlying shares outstanding.