Net (Loss) Income Per Share

12 Months Ended

Dec. 31, 2024

Net (loss) income per share is computed using the two-class method. Basic net (loss) income per share is computed using the weighted average number of shares of common stock outstanding for the period. Diluted net (loss) income per share reflects the effect of the assumed exercise of any stock options, the vesting of any restricted stock units, the exercise of any warrants (including the Public Warrants and the Private Placement Warrants), and the conversion of any convertible debt (including the Notes), in each case only in the periods in which such effect would have been dilutive.

The Company utilizes the control number concept in the computation of diluted earnings per share to determine whether potential common stock equivalents are dilutive. The control number used is net loss from continuing operations. The control number concept requires that the same number of potentially dilutive securities applied in computing diluted earnings per share from continuing operations be applied to all other categories of income or loss, regardless of their anti-dilutive effect on such categories. Since the Company had a net loss from continuing operations for all periods presented, no dilutive effect has been recognized in the calculation of net income (loss) from discontinued operations, net of tax, per share or net loss per share. Basic and diluted net (loss) income per share were the same for all periods presented.

For the years ended December 31, 2024 and 2023, net (loss) income per share amounts were the same for Class A and Class B common stock because the holders of each class are entitled to equal per share dividends. For the year ended December 31, 2022, net (loss) income per share amounts were the same for Class A, Class B, and Class C common stock because the holders of each class are entitled to equal per share dividends.

The table below presents the computation of basic and diluted net (loss) income per share:


	Year Ended December 31,
	2024		2023		2022
Numerator:
Net loss from continuing operations	$	(33,956)	$	(55,712)	$	(117,559)
Net income (loss) from discontinued operations, net of tax	24,028		(33,610)		(83,767)
Less: net income attributable to the redeemable noncontrolling interest	—		—		164
Less: net income (loss) attributable to noncontrolling interests	168		(743)		(533)

Net loss attributable to holders of Class A, Class B, and Class C common stock for basic net loss per share	$	(10,096)	$	(88,579)	$	(200,957)




Amounts attributable to BuzzFeed, Inc for net loss per common share, basic and diluted:
Net loss from continuing operations	$	(34,124)	$	(54,969)	$	(117,190)
Net income (loss) from discontinued operations, net of tax	24,028		(33,610)		(83,767)
Net loss attributable to BuzzFeed, Inc.	$	(10,096)	$	(88,579)	$	(200,957)





Denominator:
Weighted average common shares outstanding, basic and diluted	37,386		35,766		34,537



Net (loss) income per common share, basic and diluted:
Continuing operations	$	(0.91)	$	(1.54)	$	(3.39)
Discontinued operations	$	0.64	$	(0.94)	$	(2.43)
Net loss per common share, basic and diluted, attributable to BuzzFeed, Inc.	$	(0.27)	$	(2.48)	$	(5.82)

The numerator for net (loss) income per basic and diluted common share from continuing operations excludes the impact of (i) net income attributable to the redeemable noncontrolling interests and (ii) net income (loss) attributable to the noncontrolling interests for all periods presented.

The table below presents the details of securities that were excluded from the calculation of diluted net loss (income) per share as the effect would have been anti-dilutive:


	Year Ended December 31,
	2024	2023	2022
Stock options	6,882	845	994
Restricted stock units	1,103	2,190	1,874
Warrants	2,469	2,469	2,469
Convertible notes	600	3,000	3,000