v3.26.3
(Loss) Earnings Per Share
 9 Months Ended
Sep. 30, 2026
Earnings Per Share [Abstract]  
(Loss) Earnings Per Share (Loss) Earnings Per Share
The following weighted-average shares and share equivalents were used to calculate basic and diluted (loss) earnings per share (“EPS”) for the periods indicated (in thousands, except per share and share amounts):
Three Months Ended
September 30,		Nine Months Ended
September 30,
2026202520262025
Numerator:
Net income attributable to Dream Finders Homes, Inc.$6,653 $46,997 $47,630 $158,480 
Less: Preferred dividends
3,975 3,375 10,725 10,125 
Less: Impact of Series A preferred stock redemption(1)
3,000 — 3,000 — 
Numerator for basic (loss) earnings per share
$(322)$43,622 $33,905 $148,355 
Effect of dilutive securities:
Add: Preferred dividends(2)
— 3,375 — 10,125 
Numerator for diluted (loss) earnings per share
$(322)$46,997 $33,905 $158,480 
Denominator:
Weighted-average shares outstanding - basic
90,627,858 92,836,364 91,310,637 93,273,344 
Effect of dilutive securities:
Add: Assumed conversion of redeemable preferred stock
— 7,206,272 — 7,613,241 
Add: Unvested restricted stock units
— 593,033 189,738 413,014 
Weighted-average shares outstanding - diluted
90,627,858 100,635,669 91,500,375 101,299,599 
Basic (loss) earnings per share$(0.00)$0.47 $0.37 $1.59 
Diluted (loss) earnings per share$(0.00)$0.47 $0.37 $1.56 
Antidilutive redeemable preferred stock(3)
9,744,115 — 10,822,235 — 
Antidilutive unvested restricted stock units(3)
798,155 414,335 1,026,212 726,429 
(1)Represents the excess of the redemption amount of $151.5 million over the carrying amount of $148.5 million for the Series A preferred stock redemption for the three and nine months ended September 30, 2026, which was recorded within retained earnings on the Condensed Consolidated Balance Sheet as a deemed dividend and included in the numerator as a reduction of income available to common stockholders as of the redemption notice date. Refer to Note 12, Equity for additional information.
(2)For the three and nine months ended September 30, 2026, preferred dividends associated with the redeemable preferred stock were deemed to be antidilutive and, therefore, not assumed to be converted. For the three and nine months ended September 30, 2025, preferred dividends are added back to the numerator for the diluted earnings per share calculation, as the redeemable preferred stock was dilutive and assumed to be converted.
(3)The redeemable preferred stock and stock-based compensation awards are excluded from the calculation of diluted EPS in the event they are antidilutive. For the three and nine months ended September 30, 2026, the if-converted method applied to the redeemable preferred stock was weighted to account for both the redemption and issuance described in Note 12, Equity.