8. EARNINGS (LOSS) PER SHARE

The Company calculates basic earnings (loss) per share using the weighted average number of shares of Aspira common stock outstanding during the period. The Company considers the August 2022 Warrants and the March 2025 Warrants, and during the period outstanding, the Convertible Notes (see Note 5, Commitments and Contingencies, and Debt) to be participating securities, because holders of such instruments participate in the event a dividend is paid on common stock. The holders of the August 2022 Warrants and the March 2025 Warrants and the Convertible Notes do not have a contractual obligation to share in the Company’s losses. As such, losses are attributed entirely to common stockholders and for periods in which the Company has reported a net loss, diluted loss per common share is the same as basic loss per common share.

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The dilutive potential shares of common stock are computed using the treasury stock method or the as-if converted method, as applicable. Because the Company was in a net loss position, diluted loss per share is calculated using the

weighted average number of common shares outstanding and excludes the effects of potential shares of common stock that are antidilutive.

The potential shares of common stock that have been excluded from the diluted loss per share calculation above for the three and six months ended June 30, 2026 and 2025 were as follows:

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The Company considered the Convertible Notes to be participating securities, because holders of such instruments participate in the event a dividend is paid on common stock. The holders of the Convertible Notes did not have a contractual obligation to share in the Company’s losses. As such, losses were attributed entirely to common stockholders.