NET LOSS PER SHARE

3 Months Ended

Jan. 03, 2025

Basic net loss per common share is computed by dividing the net loss for the period by the weighted average number of shares of common stock outstanding during the reporting period. Diluted net loss per common share reflects the effects of potentially dilutive securities, which is computed by dividing the sum of net loss and any adjustments to net loss by the sum of the weighted average number of common shares outstanding and dilutive common shares.

A reconciliation of the numerator and denominator used in the calculation of basic and diluted net loss per common share is as follows:


	Three Months Ended
(In millions, except per share amounts)	January 3, 2025		December 29, 2023
Net loss per share - basic
Net loss attributable to Varex	$	(0.3)	$	(0.5)
Basic weighted average shares outstanding	41.1		40.6
Basic net loss per share attributable to Varex	$	(0.01)	$	(0.01)

Net loss per share - diluted
Net loss attributable to Varex	$	(0.3)	$	(0.5)



Basic weighted average shares outstanding	41.1		40.6

Dilutive effect of share-based awards and other	—		—

Diluted weighted average shares outstanding	41.1		40.6
Diluted net loss per share attributable to Varex	$	(0.01)	$	(0.01)

Anti-dilutive share summary
Share-based awards and other	3.4		3.6
Convertible notes	9.6		9.6
Warrants	9.6		9.6
Total anti-dilutive shares	22.6		22.8

Potentially dilutive shares, which are based on the weighted-average shares of common stock underlying stock options, unvested stock awards, purchase rights granted under the employee stock purchase plan, warrants, and Convertible Notes using the treasury stock method or the if-converted method, as applicable, are included when calculating diluted net loss per share attributable to Varex when their effect is dilutive. In connection with the offering of the Convertible Notes, the Company entered into convertible note hedges and warrants (see Note 9, Borrowings). However, the Company's convertible note hedges are not included when calculating potentially dilutive shares since their effect is always anti-dilutive.