The following table sets forth the calculation of basic and diluted earnings per share for the periods ended March 31, 2026 and 2025 (in thousands, except shares and per share amounts): | | | | | | | | | | | | | | | | | | | | | For the three months ended March 31, | | | | | | 2026 | | 2025 | | | Net income (loss) | | | | | $ | 170,374 | | | $ | (247,028) | | | | Net income (loss) attributable to non-controlling interest | | | | | 145,073 | | | (233,349) | | | | Net income (loss) attributable to UWMC | | | | | 25,301 | | | (13,679) | | | | | Numerator: | | | | | | | | | | Net income (loss) attributable to Class A common shareholders | | | | | $ | 25,301 | | | $ | (13,679) | | | | Net income (loss) attributable to Class A common shareholders - diluted | | | | | $ | 137,154 | | | $ | (195,300) | | | | | Denominator: | | | | | | | | | | | Weighted average shares of Class A common stock outstanding - basic | | | | | 292,122,233 | | | 164,100,022 | | | | | Weighted average shares of Class A common stock outstanding - diluted | | | | | 1,600,064,853 | | | 1,598,383,240 | | | | Earnings (loss) per share of Class A common stock outstanding - basic | | | | | $ | 0.09 | | | $ | (0.08) | | | | Earnings (loss) per share of Class A common stock outstanding - diluted | | | | | $ | 0.09 | | | $ | (0.12) | | | |
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