Earnings Per Share

3 Months Ended

Mar. 31, 2024

5. Earnings (Loss) Per Share

The following table set forth the computations of basic and diluted loss per common share for the three months ended March 31, 2024 (amounts in thousands, except per share amounts):


	Three Months Ended March 31,
	2024
Loss Per Share - Basic
Numerator:
Net loss	$	(713)

Net loss attributable to Class C shareholders	1,047
Net income attributable to other equity interest holders	(1,616)
Net income attributable to noncontrolling and redeemable noncontrolling interests	(569)

Net loss attributable to Stagwell Inc. common shareholders	$	(1,282)

Denominator:
Weighted average number of common shares outstanding	112,633
Loss Per Share - Basic	$	(0.01)

Loss Per Share - Diluted
Numerator:
Net loss attributable to Stagwell Inc. common shareholders	$	(1,282)
Adjustment to net loss:
Fair value adjustment for deferred acquisition obligations (net of income tax expense)	(224)
	$	(1,506)

Denominator:
Basic - Weighted Average number of common shares outstanding	112,633
Dilutive shares:
Class A Shares to settle deferred acquisition obligations	3,772


Dilutive - Weighted average number of common shares outstanding	116,405
Loss Per Share - Diluted	$	(0.01)

Anti-dilutive:
Class C Shares	151,649
Stock Appreciation Rights and Restricted Awards	4,531

Employee Stock Purchase Plan shares	49

The following table sets forth the computations of basic and diluted earnings per common share for the three months ended March 31, 2023:


	Three Months Ended March 31,
		2023
Earnings Per Share - Basic		(amounts in thousands, except per share amounts)
Numerator:
Net loss		$	(2,869)

Net loss attributable to Class C shareholders		1,963
Net loss attributable to other equity interest holders		2,295
Net loss attributable to noncontrolling and redeemable noncontrolling interests		$	4,258

Net income attributable to Stagwell Inc. common shareholders		$	1,389

Denominator:
Weighted Average number of common shares outstanding		125,199
Earnings Per Share - Basic		$	0.01

Earnings Per Share - Diluted
Numerator:
Net income attributable to Stagwell Inc. common shareholders		$	1,389
Net loss attributable to Class C shareholders		(1,963)
		$	(574)


Denominator:
Basic - Weighted Average number of common shares outstanding		125,199
Dilutive shares:
Stock appreciation right awards		1,929
Restricted share and restricted unit awards		1,769

Class C Shares		160,909
Dilutive - Weighted average number of common shares outstanding		289,806


Earnings Per Share - Diluted		$	—

Restricted stock awards of 4.6 million and 0.7 million as of March 31, 2024 and 2023, respectively, were excluded from the computation of diluted earnings (loss) per common share because the performance contingencies necessary for vesting were not met as of the reporting date.