Earnings Per Share

6 Months Ended

Jun. 30, 2024

15.

Earnings Per Share

Basic earnings per share is calculated using the weighted average number of shares of the Company’s common stock issued and outstanding during a certain period and is calculated by dividing net income attributable to Astrana by the weighted average number of shares of the Company’s common stock issued and outstanding during such period. Diluted earnings per share is calculated using the weighted average number of shares of common stock and potentially dilutive shares of common stock outstanding during the period, using the as-if converted method for secured convertible notes and preferred stock, and the treasury stock method for options and common stock warrants.

As of June 30, 2024 and December 31, 2023, APC held 7,132,698 shares of Astrana’s common stock, which are treated as treasury shares for accounting purposes and not included in the number of shares of common stock outstanding used to calculate earnings per share.

For the three months ended June 30, 2024 and 2023, restricted stock of 54,280 and 238,096, respectively, were excluded from the computation of diluted weighted average common shares outstanding because the assumed proceeds, as calculated under the treasury stock method, resulted in these awards being antidilutive. For the six months ended June 30, 2024 and 2023, restricted stock of 156,277 and 246,431, respectively, were excluded from the computation of diluted weighted average common shares outstanding because the assumed proceeds, as calculated under the treasury stock method, resulted in these awards being antidilutive.

For the three and six months ended June 30, 2024, 943,385 of contingently issuable shares were excluded from the computation of diluted weighted average common shares outstanding because these conditions were not achieved as of June 30, 2024. For the three and six months ended June 30, 2023, 838,628 of contingently issuable shares were excluded from the computation of diluted weighted average common shares outstanding because these conditions were not achieved as of June 30, 2023.

Below is a summary of the earnings per share computations:


Three months ended June 30,	2024		2023
Earnings per share – basic	$	0.40	$	0.28
Earnings per share – diluted	$	0.40	$	0.28
Weighted average shares of common stock outstanding – basic		47,615,096		46,482,271
Weighted average shares of common stock outstanding – diluted		47,978,491		46,778,299


Six months ended June 30,	2024		2023
Earnings per share – basic	$	0.72	$	0.57
Earnings per share – diluted	$	0.71	$	0.56
Weighted average shares of common stock outstanding – basic		47,437,722		46,517,108
Weighted average shares of common stock outstanding – diluted		47,795,082		46,844,044

Below is a summary of the shares included in the diluted earnings per share computations:


Three months ended June 30,	2024		2023
Weighted average shares of common stock outstanding – basic		47,615,096		46,482,271
Stock options		191,196		252,311
Restricted stock		141,489		40,027
Contingently issuable shares		30,710		3,690
Weighted average shares of common stock outstanding – diluted		47,978,491		46,778,299


Six months ended June 30,	2024		2023
Weighted average shares of common stock outstanding – basic		47,437,722		46,517,108
Stock options		190,073		254,718
Restricted stock		136,407		70,363
Contingently issuable shares		30,880		1,855
Weighted average shares of common stock outstanding – diluted		47,795,082		46,844,044