Earnings Per Share

3 Months Ended

Mar. 31, 2026

NOTE 17 — EARNINGS PER SHARE

Basic earnings per share (“EPS”) is calculated by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period and includes vested, unissued RSUs. Diluted EPS is calculated by dividing net income (loss) available to common stockholders by the weighted average number of common shares outstanding, after giving effect to all potential dilutive common shares outstanding during the period. We include all common stock share equivalents granted under our stock-based compensation plan which remain unvested and shares used as consideration in the Ault acquisition which remain unissued (“dilutive securities”), in the number of shares outstanding for our diluted EPS calculations using the treasury method.

Basic and diluted EPS were calculated as follows:


	Three Months Ended March 31,
	2026			2025
Basic net loss per share
Net loss available to common stockholders	$	(20.3	)	$	(21.7	)
Basic weighted average common shares outstanding		32,617,531			33,167,370
Basic net loss per share of common stock	$	(0.62	)	$	(0.65	)
Diluted net loss per share
Net loss available to common stockholders	$	(20.3	)	$	(21.7	)
Basic weighted average common shares outstanding		32,617,531			33,167,370
Effect of dilutive securities:
Effect of dilutive securities		—			—
Diluted weighted average common shares outstanding		32,617,531			33,167,370
Diluted net loss per share of common stock	$	(0.62	)	$	(0.65	)

Approximately 798,000 and 795,000 securities were excluded from the calculation of diluted net loss per share for the three months ended March 31, 2026 and 2025, respectively, because the inclusion of such securities in the calculation would have been anti-dilutive.