The following table presents the calculation of basic and diluted net loss per share attributable to Rise Companies Corp. Class A, Class B, and Class F common stockholders (in thousands, except share and per share data):


	Three Months Ended September 30,				Nine Months Ended September 30,
	2026		2025		2026		2025
Numerator:
Net loss	$	(2,293)	$	(2,916)	$	(9,380)	$	(8,829)
Less: net income (loss) attributable to noncontrolling interest	(49)		163		326		490
Net loss attributable to common stockholders	$	(2,244)	$	(3,079)	$	(9,706)	$	(9,319)
Denominator:
Weighted-average common shares outstanding – basic and diluted	32,607,766		32,491,518		32,510,842		32,514,384
Net loss per share attributable to common stockholders - basic and diluted	$	(0.07)	$	(0.09)	$	(0.30)	$	(0.29)

The following potential common shares were excluded from the calculation of diluted net loss per share attributable to Rise Companies Corp. Class A, Class B, and Class F common stockholders because their effect would have been anti-dilutive or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period:


	Three and Nine Months Ended September 30,
	2026	2025
Redeemable convertible preferred stock	11,865,046	11,865,046
Restricted stock units	9,204,318	8,011,147
Performance stock units	3,018,867	3,018,867
Restricted stock options	6,500	6,500
Total anti-dilutive securities	24,094,731	22,901,560