Earnings Per Share

3 Months Ended

Mar. 31, 2025

NOTE 4: EARNINGS PER SHARE

As a result of the 103-for-one stock split and the restructuring transactions, the 281,211,630 shares of the Company’s Common Stock held were distributed to former holders of Class A-1 Units and Class A-2 Units of Dynasty Parent Holdings, L.P. in an aggregate of 275,053,375 shares of Common Stock (of which 8,157 were restricted shares), and also to holders of Class B Units of Dynasty Parent Holdings, L.P. in an aggregate of 6,158,255 shares of Common Stock (of which 6,028,394 were restricted shares). For purposes of the computation of earnings (loss) per share this distribution represented a net 100.79-for-one stock split of the Company’s Common Stock which is retroactively adjusted for all periods presented.

The following table summarize the computation of basic and diluted net income per share attributable to the stockholders:


		Three months ended March 31,
		2025		2024
	(in thousands, except per share amounts)
Numerator for earnings per share:
Net income		$	62,943	$	3,187

Denominator for earnings per share:
Weighted average common shares - basic			328,439		275,175
Dilutive effect of stock options and restricted stock awards			5,723		—
Weighted average shares - diluted			334,162		275,175

Earnings per share:
Basic earnings per share		$	0.19	$	0.01
Diluted earnings per share		$	0.19	$	0.01

The Company has contingently issuable shares of 6,306,550 issuable upon the Company’s completion of a liquidity event which has not occurred as of March 31, 2025. These shares are excluded from weighted average common shares - basic but included in calculation of the dilutive effect of stock options and restricted stock awards. See our 2024 Form 10-K, Note 19, Stock Based Compensation for further information.