| Net Income (Loss) Per Share |
Net Income (Loss) Per Share Basic net income (loss) per share (“EPS”) is calculated by dividing net earnings (loss) by the weighted average number of common shares outstanding during the period. Potentially dilutive securities include warrants, shares of the Series A Preferred Stock, shares of restricted stock, restricted stock units, and former employee stock options. Diluted EPS reflects the assumed exercise or conversion of all dilutive securities. The Series A Preferred Stock was considered participating securities for the purposes of the Company's EPS calculation. The following table sets forth the computation of basic and diluted net loss per share (in thousands, except for per share amounts): | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | 2026 | | 2025 | | 2026 | | 2025 | | Basic net loss per common share calculation: | | | | | | | | | Net loss attributable to Sonida shareholders | $ | (24,464) | | | $ | (1,563) | | | $ | (65,692) | | | $ | (14,092) | | | Less: Dividends on Series A Preferred Stock | — | | | (1,409) | | | (1,093) | | | (2,818) | | | Less: Deemed dividend on induced conversion of Series A convertible preferred stock | — | | | — | | | (19,069) | | | — | | | | | | | | | | | Net loss attributable to common shareholders | $ | (24,464) | | | $ | (2,972) | | | $ | (85,854) | | | $ | (16,910) | | Weighted average shares outstanding — basic | 46,806 | | | 18,093 | | | 35,987 | | | 18,070 | | | Basic net loss per share | $ | (0.52) | | | $ | (0.16) | | | $ | (2.39) | | | $ | (0.94) | | | | | | | | | | | Diluted net loss per common share calculation: | | | | | | | | | Net loss attributable to common shareholders | $ | (24,464) | | | $ | (2,972) | | | $ | (85,854) | | | $ | (16,910) | | | Weighted average shares outstanding — diluted | 46,806 | | | 18,093 | | | 35,987 | | | 18,070 | | | Diluted net loss per share | $ | (0.52) | | | $ | (0.16) | | | $ | (2.39) | | | $ | (0.94) | |
| | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | (shares in thousands) | 2026 | | 2025 | | 2026 | | 2025 | Weighted average shares outstanding - diluted reconciliation: | | | | | | | | Weighted average shares outstanding — basic | 46,806 | | | 18,093 | | | 35,987 | | | 18,070 | | | | | | | | | | | | | | | | | | | Weighted average shares outstanding — diluted | 46,806 | | | 18,093 | | | 35,987 | | | 18,070 | |
The following weighted-average shares of securities were not included in the computation of diluted net income (loss) per common share as their effect would have been antidilutive: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | (shares in thousands) | 2026 | | 2025 | | 2026 | | 2025 | | Warrants | 1,031 | | 1,031 | | 1,031 | | 1,031 | | Series A Preferred Stock (if converted) | — | | 1,281 | | 611 | | 1,281 | | Restricted stock awards | 557 | | 784 | | 607 | | 834 | | Restricted stock units | 1,555 | | 113 | | 1,024 | | 60 | | Stock options | 10 | | 10 | | 10 | | 10 | | | | | | | | | | Total | 3,153 | | 3,219 | | 3,283 | | 3,216 |
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