Basic earnings (loss) per common share is computed by dividing net earnings available to the common shareholders by the weighted-average number of shares of common stock outstanding during the period.

Diluted earnings (loss) per common share is computed by dividing the diluted earnings (loss) available to the common shareholders by the weighted-average number of shares of common stock and potentially dilutive shares of common stock outstanding during the period. Potentially dilutive shares whose effect would have been anti-dilutive are excluded from the computation of diluted earnings (loss) per common share.

The dilutive effect of equity awards is calculated based on the average stock price for each fiscal period, using the treasury stock method. For the year ended June 30, 2026, diluted shares outstanding include the dilutive effect of the potential shares of Coherent Common Stock issuable from performance and restricted shares and the potentially dilutive effect of the shares of Coherent Common Stock issuable upon conversion of the Series B Convertible Preferred Stock, calculated using the If-Converted method through their respective conversion dates, as the effect was dilutive. For the years ended June 30, 2025 and June 30, 2024, as the Company was in a net loss position, there were no dilutive shares.

The following is a reconciliation of the numerators and denominators of the basic and diluted earnings (loss) per share computations for the periods presented ($000, except per share):



Year Ended June 30,	2026		2025		2024


Numerator
Net earnings (loss) attributable to Coherent Corp.	$	804,998	$	49,364	$	(156,154)


Deduct Series B dividends and deemed dividends	(35,102)		(129,926)		(123,357)
Basic earnings (loss) available to common shareholders	$	769,896	$	(80,562)	$	(279,511)

Effect of dilutive securities:


Add back Series B preferred stock dividends	$	31,751	$	—	$	—
Add back Series B deemed dividends	3,351		—		—
Diluted earnings (loss) available to common shareholders	$	804,998	$	(80,562)	$	(279,511)

Denominator
Weighted average shares	177,269		154,755		151,642
Effect of dilutive securities:
Common stock equivalents	5,699		—		—


Series B Convertible Preferred Stock	12,419		—		—
Diluted weighted average common shares	195,387		154,755		151,642

Basic earnings (loss) per common share	$	4.34	$	(0.52)	$	(1.84)

Diluted earnings (loss) per common share	$	4.12	$	(0.52)	$	(1.84)

The following table presents potential shares of common stock excluded from the calculation of diluted net earnings (loss) per share, as their effect would have been anti-dilutive (000):