LOSS PER SHARE

6 Months Ended

Jun. 30, 2026

Loss per share:

NOTE 8— LOSS PER SHARE

The following table sets forth the computation of basic and diluted loss per share:


		Three Months Ended June 30,								Six Months Ended June 30,
		2026				2025				2026				2025
Numerator
Net loss attributable to Dolphin Entertainment common stock shareholders and numerator for basic loss per share		$	(1,605,542	)		$	(1,413,918	)		$	(4,297,576	)		$	(3,742,980	)
Change in fair value of convertible note			—				(50,000	)			—				(70,000	)
Interest expense			—				9,863				—				19,726
Numerator for diluted loss per share		$	(1,605,542	)		$	(1,454,055	)		$	(4,297,576	)		$	(3,793,254	)

Denominator
Denominator for basic EPS - weighted-average shares			12,848,706				11,168,572				12,589,779				11,166,596
Effect of dilutive securities:
Convertible note payable at fair value			—				63,939				—				63,939
Denominator for diluted EPS - adjusted weighted-average shares			12,848,706				11,232,511				12,589,779				11,230,535

Basic loss per share		$	(0.13	)		$	(0.13	)		$	(0.34	)		$	(0.33	)
Diluted loss per share		$	(0.13	)		$	(0.13	)		$	(0.34	)		$	(0.34	)

Basic (loss) earnings per share is computed by dividing income or loss attributable to the shareholders of common stock (the numerator) by the weighted-average number of shares of common stock outstanding (the denominator) for the period. Diluted (loss) earnings per share assume that any dilutive equity instruments, such as convertible notes payable and warrants were exercised and outstanding common stock adjusted accordingly, if their effect is dilutive.

The Company’s convertible note payable at fair value, the warrant and the Series C preferred stock have clauses that entitle the holder to participate if dividends are declared to the common stockholders as if the instruments had been converted into shares of common stock. As such, the Company uses the two-class method to compute earnings per share and attribute a portion of the Company’s net income to these participating securities. These securities do not contractually participate in losses. For the three and six months ended June 30, 2026 and 2025, the Company had a net loss and as such the two-class method is not presented.

For the three and six months ended June 30, 2026, potentially dilutive instruments including 5,999,877 shares and 5,843,342 shares of common stock issuable upon conversion of convertible notes outstanding were not included in the diluted loss per share as inclusion was considered to be antidilutive.

For the three and six months ended June 30, 2025, potentially dilutive instruments including 6,257,833 shares and 5,747,879 shares, respectively, of common stock upon conversion of convertible notes outstanding and 10,000 shares of common stock issuable upon exercise of the Series I Warrant were not included in the diluted loss per share as inclusion was considered to be antidilutive.