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Loss Per Share
 3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]

Note 8 — Loss Per Share

 

The following table is a reconciliation of the weighted average shares used in the computation of loss per share for the periods presented (in thousands, except per share data):

 

   

Three Months Ended
March 31,

  

Loss per share - basic and diluted

  

2024

    

2023

  

Net loss

   $ (14,225 )   $ (5,318 )

Net income (loss) attributable to non-controlling interests

     280       (5 )

Net loss attributable to JAKKS Pacific, Inc.

     (14,505 )     (5,313 )

Preferred stock dividend *

     —       367  

Redemption of preferred stock

     1,330       —  

Net loss attributable to common stockholders **

   $ (13,175 )   $ (5,680 )

Weighted average common shares outstanding - basic and diluted

     10,354       9,871  

Loss per share available to common stockholder - basic and diluted

   $ (1.27 )   $ (0.58 )

 

* The 200,000 shares issued and outstanding as of March 31, 2023 are non-participating. A preferred dividend of $0.4m was accrued for Q1 2024 and included in the preferred stock redemption.

 

** Net loss attributable to common stockholders was computed by deducting the difference between the fair value of the consideration transferred to the holders of the preferred stock and the carrying amount of the preferred stock and fair value of the related derivative liability of $1.3 million for the three months ended March 31, 2024 and the preferred stock dividend of $0.4 million for the three months ended March 31, 2023.

 

Basic loss per share is calculated using the weighted average number of common shares outstanding during the period. Diluted loss per share is calculated using the weighted average number of common shares and common share equivalents outstanding during the period (which consist of restricted stock units to the extent they are dilutive). Potentially dilutive restricted stock units of 545,145 and 494,106 for the three months ended March 31, 2024 and 2023, respectively, were excluded from the computation of diluted loss per share since they would have been anti-dilutive.