| Schedule of Computation of Basic and Diluted Net Income (Loss) per Share |
The following table sets forth the computation of basic and diluted net income (loss) per share:
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | (in thousands, except per share amounts) | | Numerator: | | | | | | | | | Net income (loss) | $ | 493,704 | | | $ | 162,498 | | | $ | 74,528 | | | $ | 168,412 | | | | | | | | | | | Less: net (income) loss attributable to noncontrolling interests | (939) | | | (1,299) | | | (1,610) | | | (3,288) | | | Less: net (income) loss attributable to redeemable noncontrolling interests | — | | | (7,978) | | | — | | | (14,050) | | | Net income (loss) attributable to Crescent Energy - basic | $ | 492,765 | | | $ | 153,221 | | | $ | 72,918 | | | $ | 151,074 | | | Add: Reallocation of net income attributable to redeemable noncontrolling interest for the dilutive effect of RSUs | — | | | (5) | | | — | | | (7) | | | Add: Reallocation of net income attributable to redeemable noncontrolling interest for the dilutive effect of PSUs | — | | | (278) | | | — | | | (360) | | Add: Interest expense, net of taxes, of 2031 Convertible Notes | 3,558 | | | — | | | 4,546 | | | — | | | Net income (loss) attributable to Crescent Energy - diluted | $ | 496,323 | | | $ | 152,938 | | | $ | 77,464 | | | $ | 150,707 | | | Denominator: | | | | | | | | | Weighted-average Class A Common Stock outstanding - basic | 330,283 | | | 253,174 | | | 329,283 | | | 222,405 | | | Add: dilutive effect of RSUs | 534 | | | 38 | | | 466 | | | 159 | | | Add: dilutive effect of PSUs | 4,604 | | | 2,235 | | | 7,135 | | | 2,721 | | | Add: dilutive effect of 2031 Convertible Notes | 46,330 | | | — | | | 29,948 | | | — | | | Weighted-average Class A Common Stock outstanding – diluted | 381,751 | | | 255,447 | | | 366,832 | | | 225,285 | | | Weighted-average Class B Common Stock outstanding – basic and diluted | — | | | 2,077 | | | — | | | 33,494 | | | Net income (loss) per share: | | | | | | | | | Class A Common Stock – basic | $ | 1.49 | | | $ | 0.61 | | | $ | 0.22 | | | $ | 0.68 | | | Class A Common Stock – diluted | $ | 1.30 | | | $ | 0.60 | | | $ | 0.21 | | | $ | 0.67 | | | Class B Common Stock – basic and diluted | $ | — | | | $ | — | | | $ | — | | | $ | — | |
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