v3.26.1
Earnings Per Share
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Earnings Per Share Earnings Per Share
The following table sets forth the computation of basic and diluted earnings per share for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Basic earnings per share:
Numerator:
Net income$(2,628)$15,310 $(3,182)$32,151 
Less: Net income attributable to noncontrolling interests(1,999)14,013 (1,980)29,964 
Net income attributable to Class A common stockholders$(629)$1,297 $(1,202)$2,187 
Denominator:
Weighted average shares outstanding (in thousands)2,643 2,357 2,554 2,205 
Basic earnings per share$(0.24)$0.55 $(0.47)$0.99 
Diluted earnings per share:
Numerator:
Net income$(2,628)$15,310 $(3,182)$32,151 
Less: Net income attributable to noncontrolling interests(1,999)14,013 (1,980)29,964 
Net income attributable to Class A common stockholders$(629)$1,297 $(1,202)$2,187 
Denominator:
Weighted average shares outstanding (in thousands)2,643 2,445 2,554 2,302 
Diluted earnings per share$(0.24)$0.53 $(0.47)$0.95 
The Company’s potentially dilutive securities and their impact on the computation of diluted earnings per share is as follows:
▪Sponsor and MarketWise Management Member Earnout Shares: the 152,550 Sponsor Earnout Shares and the 99,998 MarketWise Management Member Earnout Shares held in escrow were excluded from the earnings per share computation in the 2025 period since the earnout contingency had not been met. In July 2025, the earnout period for all 252,548 previously escrowed Management Member Earnout Shares and Sponsor Earnout Shares (“EO Shares”) expired. As a result, there was no dilution to other shareholders
related to this arrangement. As a result of the EO Shares expiration, the Company reversed $1.3 million in cumulative dividends that had been accrued attributable to the EO Shares during 2025.
▪Restricted stock units: The basic earnings per share calculation includes the impact of vested RSUs. The diluted earnings per share calculation includes the impact of unvested RSUs, where the impact is dilutive, unless the Company has a net loss.
▪Stock appreciation rights: The diluted earnings per share calculation excludes the impact of SARs since the effect was antidilutive.
▪ESPP: The diluted earnings per share calculation includes the impact of dilutive shares and excludes the impact of antidilutive shares under the ESPP as of June 30, 2026 and 2025.
▪For the three and six months ended June 30, 2026 the Company’s potential dilutive securities, which include, restricted stock units and performance stock units have been excluded from the computation of diluted net loss per share as the effect would be to reduce the net loss per share. Therefore, the weighted-average number of common stock outstanding used to calculate both basic and diluted net loss per share attributable to common stockholders is the same for the three and six months ended June 30, 2026.
Potentially dilutive securities that were not included in the diluted per share calculations because they would be anti-dilutive were as follows (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Shares subject to outstanding RSUs1,026 907 987 913 
Shares subject to outstanding SARs56 59 57 60 
Total1,082 966 1,044 973