Basic net income (loss) per share of Class A Common Stock is computed by dividing net income (loss) attributable to the Company's earnings by the weighted-average number of shares of Class A Common Stock outstanding during the period. The weighted-average number of shares of Class A Common Stock outstanding used in computing basic net income (loss) per share includes fully vested restricted stock units awarded to directors that are entitled to participate in distributions to common stockholders through receipt of additional units of equivalent value to the dividends paid to Class A Common Stock holders.

Diluted net income (loss) per share of Class A Common Stock is computed similarly to basic net income (loss) per share except the weighted-average shares outstanding are increased to include additional shares from the assumed exercise of any common stock equivalents using the treasury stock method and contingently issuable shares, if dilutive. The Company's LLC Units and non-qualified stock options are considered common stock equivalents for this purpose. The number of additional shares of Class A Common Stock related to these common stock equivalents and stock options are calculated using the treasury stock method. Contingently issuable shares relate to the contingent consideration from the acquisition of Saxdor, which may be settled in cash, shares of Class A Common Stock, or a combination of both at the Company's sole discretion. For purposes of computing diluted net income (loss) per share, the contingent consideration is presumed to be settled in shares. The contingent consideration is subject to two sets of performance conditions. As of September 30, 2026, the first set of conditions had been met, and achievement of the second set will be determined based on performance for the calendar year ending December 31, 2026. Because the contingency period has not ended, contingently issuable shares are included in the computation of diluted net income (loss) per share based on the number of shares that would be issuable if September 30, 2026 were the end of the contingency period. Refer to Note 4 — Acquisition, for further discussion of the contingent consideration.

Stock awards with a performance condition that are based on the attainment of a specified amount of earnings are only included in the computation of diluted earnings per share to the extent that the performance condition would be achieved based on the current amount of earnings, and only if the effect would be dilutive.

Stock awards with a market condition that are based on the performance of the Malibu Boats, Inc.'s stock price in relation to a market index over a specified time period are only included in the computation of diluted earnings per share to the extent that the shares would be issued based on the current market price of the Malibu Boats, Inc.'s stock in relation to the market index, and only if the effect would be dilutive.

Basic and diluted net income (loss) per share of Class A Common Stock has been computed as follows (in thousands, except share and per share amounts):


	Three Months Ended September 30,
	2026		2025
Basic:
Net income (loss) attributable to Malibu Boats, Inc.	$	5,998	$	(702)
Shares used in computing basic net income (loss) per share:
Weighted-average Class A Common Stock	19,449,568		19,041,502
Weighted-average participating restricted stock units convertible into Class A Common Stock	294,319		294,488
Basic weighted-average shares outstanding	19,743,887		19,335,990
Basic net income (loss) per share	$	0.30	$	(0.04)

Diluted:
Net income (loss) attributable to Malibu Boats, Inc.	$	5,998	$	(702)


Adjustment due to earnout	(106)		—
Adjusted net income (loss) attributable to Malibu Boats, Inc.	$	5,892	$	(702)
Shares used in computing diluted net income (loss) per share:
Basic weighted-average shares outstanding	19,743,887		19,335,990
Restricted stock units granted to employees	26,116		—
Stock options granted to employees	—		—
Market performance awards granted to employees	—		—
Contingently issuable shares	170,436		—
Diluted weighted-average shares outstanding 1	19,940,439		19,335,990
Diluted net income (loss) per share	$	0.30	$	(0.04)