The following table is a reconciliation between net income (loss) and the amounts used to compute basic and diluted net income (loss) per share and the weighted average shares outstanding used to compute basic and diluted net income (loss) per share. Potentially dilutive securities include shares issuable upon conversion of our 3.125% Convertible Senior Notes using the if-converted method and restricted stock units awards under our equity-based compensation plan.


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2026		2025		2026		2025
	(In thousands, except per share data)
Numerator:
Net income (loss) allocable to common stockholders	$	184,775	$	(87,740)	$	(40,799)	$	(198,346)




Denominator:
Weighted average number of shares outstanding:
Basic	593,441		478,068		550,060		476,881
Restricted stock units(1)	11,272		—		—		—
Shares issuable assuming conversion of 3.125% Convertible Senior Notes(2)	—		—		—		—
Diluted	604,713		478,068		550,060		476,881
Net income (loss) per share:
Basic	$	0.31	$	(0.18)	$	(0.07)	$	(0.42)
Diluted	$	0.31	$	(0.18)	$	(0.07)	$	(0.42)

(1)We excluded restricted stock units of 2.5 million and 5.2 million for the three months ended June 30, 2026 and 2025, respectively, and 17.1 million and 5.9 million for the six months ended June 30, 2026 and 2025, respectively from the computations of diluted net income (loss) per share because the effect would have been anti-dilutive.

(2)Represents the dilutive impact for the Company’s 3.125% Convertible Senior Notes due 2030. As of June 30, 2026, the if-converted value is less than the outstanding principal of the 3.125% Convertible Senior Notes and therefore anti-dilutive. The 3.125% Convertible Senior Notes are subject to a capped call arrangement that potentially reduces the dilutive effect. Any potential impact of the capped call arrangement is excluded from this table as any proceeds under the capped call arrangement are considered anti-dilutive.

On March 10, 2026 the Company launched and priced a registered underwritten public offering of 112.1 million shares of common stock, par value $0.01, resulting in net proceeds to Kosmos of approximately $206.4 million. The offering closed on March 12, 2026.