Basic earnings (loss) per share applicable to common stockholders is computed by dividing earnings applicable to common stockholders by the weighted-average number of common shares outstanding. Diluted loss per share assumes the conversion of any convertible securities using the treasury stock method.

The computations for basic and diluted loss per share are as follows (in thousands, except shares and per share amounts):


	For the years ended June 30,
	2026		2025
Numerator:
Net loss after income tax attributable to Tamboran Resources Corporation stockholders	$	(26,073)	$	(36,902)
Denominator:
Weighted-average number of common stock outstanding, basic and diluted	22,463,972		14,661,192
Net loss per share, basic and diluted	$	(1.161)	$	(2.517)

The Company’s potentially dilutive shares, which include outstanding common stock options, have not been included in the computation of diluted net loss per share for the years ended June 30, 2026 and 2025 as the result would be anti-dilutive.