For the year ended December 31,

2025

2024

2023

Numerator

Net (loss) income

$

(198,836

)

$

40,656

$

(120,858

)

Less: net loss attributable to non-controlling interests

(139,156

)

(50,249

)

(107,367

)

Net (loss) income attributable to common shareholders of Sinovac for computing diluted net income per share

$

(59,680

)

$

90,905

$

(13,491

)

Denominator

Basic weighted average number of common shares outstanding

71,860,702

71,860,702

71,830,233

Dilutive effect of stock options and preferred shares

—

—

19,863

Diluted weighted average number of common shares outstanding

71,860,702

71,860,702

71,850,096

Basic net (loss) income per share

$

(0.83

)

$

1.27

$

(0.19

)

Diluted net (loss) income per share

$

(0.83

)

$

1.27

$

(0.19

)