| Summary of Computation of The Company's Basic and Diluted Net Earnings Per Share |
The following table sets forth the computation of the Company’s basic and diluted net earnings per share for the three and six months ended June 30, 2026 and 2025 (in thousands except share and per share data):
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Three months ended June 30, |
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Six months ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Numerator: |
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Net income (loss) attributable to Drilling Tools International shareholders |
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$ |
(1,788 |
) |
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$ |
(2,407 |
) |
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$ |
(3,328 |
) |
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$ |
(4,076 |
) |
Denominator |
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Weighted-average common shares outsanding — basic |
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35,276,155 |
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35,573,749 |
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35,202,327 |
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35,583,139 |
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Weighted-average effect of potentially dilutive securities: |
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Effect of potentially dilutive time-based stock options |
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— |
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— |
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— |
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— |
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Effect of potentially dilutive performance-based stock options |
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— |
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— |
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— |
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— |
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Effect of potentially dilutive restricted stock units |
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— |
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— |
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— |
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— |
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Weighted-average common shares outstanding — diluted |
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35,276,155 |
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35,573,749 |
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35,202,327 |
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35,583,139 |
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Earnings (loss) per share — basic |
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$ |
(0.05 |
) |
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$ |
(0.07 |
) |
|
$ |
(0.09 |
) |
|
$ |
(0.11 |
) |
Earnings (loss) per share — diluted |
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$ |
(0.05 |
) |
|
$ |
(0.07 |
) |
|
$ |
(0.09 |
) |
|
$ |
(0.11 |
) |
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| Summary of Company's Potentially Dilutive Securities Excluded |
As of June 30, 2026, the Company’s potentially dilutive securities consisted of options to purchase common stock, time-based restricted stock, and performance-based restricted stock units. Based on the amounts outstanding as of the three and six months ended June 30, 2026 and 2025, the Company excluded the following potential common shares from the computation of diluted net income per share because including them would have had an anti-dilutive effect:
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Three months ended June 30, |
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Six Months Ended June 30, |
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2026 |
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2025 |
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2026 |
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2025 |
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Performance-based options outstanding |
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534,064 |
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534,063 |
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534,064 |
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534,063 |
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Time-based options outstanding |
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4,366,236 |
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4,429,563 |
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4,366,236 |
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4,396,855 |
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Time-based restricted stock units outstanding |
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1,111,113 |
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1,052,451 |
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1,111,113 |
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1,052,451 |
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Total |
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6,011,413 |
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6,016,077 |
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6,011,413 |
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5,983,369 |
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