LOSS PER COMMON SHARE

12 Months Ended

Sep. 30, 2025

Basic loss per share is computed using the weighted-average number of common shares outstanding for the period. Diluted loss per share is calculated using the treasury stock method to reflect the assumed issuance of common shares for all potentially dilutive securities, which consist of outstanding stock options and nonvested restricted stock units. Potentially dilutive shares are excluded from the computation of diluted loss per share if their effect is anti-dilutive.

Options to purchase 454,452 shares of common stock and 218,300 restricted stock units were excluded from the computation of diluted shares for the year ended September 30, 2025, as their inclusion would have been anti-dilutive. Options to purchase 465,000 shares of common stock and 98,795 restricted stock units were excluded from the computation of diluted shares for the year ended September 30, 2024, as their inclusion would have been anti-dilutive.

Reconciliations between net loss attributable to Barnwell stockholders and common shares outstanding of the basic and diluted net loss per share computations are detailed in the following tables:


	Year ended September 30,
	2025		2024
Numerator:
Net loss from continuing operations	$	(7,123,000)	$	(3,871,000)
Less: Net (loss) earnings attributable to non-controlling interests of continuing operations	(8,000)		234,000
Net loss from continuing operations attributable to Barnwell Industries, Inc.	(7,115,000)		(4,105,000)
Net earnings (loss) from discontinued operations	12,000		(1,460,000)
Net loss attributable to Barnwell Industries, Inc.	$	(7,103,000)	$	(5,565,000)

Denominator:
Basic weighted-average number of common shares outstanding	10,056,479		10,017,997
Effect of dilutive securities - common stock options and restricted stock units	—		—
Diluted weighted-average number of common shares outstanding	10,056,479		10,017,997

Basic and diluted loss per common share:
Net loss per common share from continuing operations attributable to Barnwell Industries, Inc. stockholders	$	(0.71)	$	(0.41)
Net loss per common share from discontinued operations	—		(0.15)
Net loss per common share attributable to Barnwell Industries, Inc. stockholders	$	(0.71)	$	(0.56)