EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2024

Basic earnings per share is calculated by dividing net income (loss) by the weighted-average number of shares outstanding during the period. Diluted earnings per share is calculated by dividing net income by the weighted-average number of common shares outstanding, after giving effect to all dilutive potential common shares outstanding during the period. Remeasurements to the carrying value of the redeemable noncontrolling interests in equity of subsidiaries are not deemed to be a dividend. According to ASC 480 - Distinguishing Liabilities from Equity, there is no impact on earnings per share in the computation of basic and diluted earnings per share to common shareholders for changes in the carrying value of the redeemable noncontrolling interests in equity, when such changes in carrying value which in substance approximates fair value.

Securities that could potentially dilute basic net income (loss) per share in the future that were not included in the computation of diluted net income (loss) per share were 3,282,390 and 1,999,273 during the three months ended March 31, 2024 and 2023, respectively, because to do so would have been anti-dilutive.

Basic and diluted earnings per share were calculated as follows:


	Three Months Ended March 31,
	2024		2023
Net (loss) income attributable to B. Riley Financial, Inc.	$	(49,165)	$	17,155
Preferred stock dividends	(2,015)		(2,012)
Net (loss) income available to common shareholders	$	(51,180)	$	15,143

Weighted average common shares outstanding:
Basic	29,989,584		28,585,337
Effect of dilutive potential common shares:
Restricted stock units and warrants	—		928,098
Diluted	29,989,584		29,513,435

Basic (loss) income per common share	$	(1.71)	$	0.53
Diluted (loss) income per common share	$	(1.71)	$	0.51