Net loss per share calculation information is as follows:


	Year ended December 31,
	2024			2025
Net loss	$	(5,887,258	)	$	(196,549,741	)
Weighted-average shares outstanding:
Basic		1,579,744			1,798,760
Effect of dilutive restricted stock units		—			—
Diluted		1,579,744			1,798,760
Net loss per Class A and Class B common share – basic and diluted	$	(3.73	)	$	(109.27	)

(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 21 for additional information.

The Company excluded the effect of restrictive stock units under the treasury stock method when reporting a net loss as the addition of shares was anti-dilutive. The number of shares excluded was 17,451 and 10,473 for the years ended December 31, 2024 and 2025, respectively.