Earnings Per Share

9 Months Ended

Sep. 30, 2021

Prior to the reverse recapitalization, all net income was attributable to the noncontrolling interest. For the periods prior to July 20, 2021, earnings per share was not calculated as net income prior to the Business Combination was attributable entirely to OppFi-LLC.

The following table sets forth the computation of basic and diluted earnings per share for the three and nine months ended September 30, 2021 (in thousands, except per share data):


	Three Months Ended		Nine Months Ended
	September 30, 2021		September 30, 2021
Numerator:
Net income	$	30,392	$	72,763
Net income attributable to noncontrolling interest	16,267		58,638
Net income available to Class A common stockholders - Basic	14,125		14,125
Dilutive effect of warrants on net income to Class A common stockholders	—		—
Net income available to Class A common stockholders - Diluted	$	14,125	$	14,125
Denominator:
Weighted average Class A common stock outstanding - Basic	13,363,995		13,107,873
Effect of dilutive securities:
Stock options	—		—
Warrants	—		—
Dilutive potential common shares	—		—
Weighted average units outstanding - diluted	13,363,995		13,107,873
Earnings per share:
Basic EPS	$	1.06	$	1.08
Diluted earnings per unit	$	1.06	$	1.08

The following table presents securities that have been excluded from the calculation of diluted earnings per share as

their effect would have been anti-dilutive for the three and nine months ended September 30, 2021:


	Three Months Ended	Nine Months Ended
	September 30, 2021	September 30, 2021
Public Warrants	11,887,500	11,887,500
Private Unit Warrants	231,250	231,250
$11.50 Exercise Price Warrants	2,248,750	2,248,750
$15 Exercise Price Warrants	912,500	912,500
Underwriter Warrants	59,437	59,437
Stock Options	5,600,000	5,600,000
Potential common stock	20,939,437	20,939,437