| Schedule of Basic and Diluted Earnings (Loss) Per Share |
The following table sets
forth the computation of basic and diluted earnings (loss) per share for the three months ended March 31, 2026 and 2025:
| | |
For the Three Months Ended
March 31, | |
| | |
2026 | | |
2025 | |
| Net income (loss) attributable to TOYO Co., Ltd.’s shareholders | |
$ | 28,411,204 | | |
$ | (3,253,222 | ) |
| Less: Net loss attributable to holders of earnout shares | |
| - | | |
| (907,634 | ) |
| Net income (loss) attributable to TOYO Co., Ltd’s ordinary shareholders | |
$ | 28,411,204 | | |
$ | (2,345,688 | ) |
| | |
| | | |
| | |
| Weighted average number of ordinary share outstanding– basic | |
| 37,678,920 | | |
| 33,595,743 | |
| Earnings (loss) per share – basic | |
$ | 0.75 | | |
$ | (0.07 | ) |
| Weighted average number of ordinary share outstanding– diluted | |
| 37,693,224 | | |
| 33,595,743 | |
| Earnings (loss) per share – diluted | |
$ | 0.75 | | |
$ | (0.07 | ) |
The weighted-average number
of potentially anti-dilutive shares excluded from calculation of dilutive earnings (loss) per share are as follows:
| | |
For the Three Months Ended
March 31, | |
| | |
2026 | | |
2025 | |
| Public Warrants | |
$ | 4,600,000 | | |
$ | 4,600,000 | |
| Private Warrants | |
| 212,240 | | |
| 212,240 | |
| Other Warrants | |
| 157,767 | | |
| 157,767 | |
| AMI Warrants | |
| - | | |
| 4,521 | |
| Total | |
$ | 4,970,007 | | |
$ | 4,974,528 | |
|