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Earnings Per Share
 9 Months Ended
Sep. 30, 2024
Earnings Per Share [Abstract]  
Earnings Per Share
(12)
Earnings Per Share

 

Earnings per share calculation information is as follows:

 

 

Three months ended September 30,

 

 

Nine months ended September 30,

 

 

2023

 

 

2024

 

 

2023

 

 

2024

 

Net loss attributable to BBGI stockholders

 

$

(67,536,837

)

 

$

(3,560,575

)

 

$

(81,504,032

)

 

$

(3,828,626

)

Weighted-average shares outstanding(1):

 

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

1,498,131

 

 

 

1,529,521

 

 

 

1,493,391

 

 

 

1,521,204

 

Effect of dilutive restricted stock units

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Diluted

 

 

1,498,131

 

 

 

1,529,521

 

 

 

1,493,391

 

 

 

1,521,204

 

Net loss attributable to BBGI stockholders per Class A and Class B common share – basic and diluted(1)

 

$

(45.08

)

 

$

(2.33

)

 

$

(54.58

)

 

$

(2.52

)

 

(1)
Weighted-average shares outstanding used in the computation of basic and diluted Net loss attributable to BBGI stockholders per Class A and Class B common share have been retroactively adjusted to reflect the 1-for-20 Reverse Stock Split that occurred on September 23, 2024. See Note 15 for additional information.

 

The Company excluded the effect of restrictive stock units and restricted stock under the treasury stock method when reporting a net loss as the addition of shares was anti-dilutive. As a result, the Company excluded 3,807 shares and 18,379 shares for the three months ended September 30, 2023 and 2024, respectively, and 4,166 shares and 23,588 shares for the nine months ended September 30, 2023 and 2024, respectively.