Earnings Per Share

6 Months Ended

Jun. 30, 2025

14.

Earnings Per Share

Basic earnings per share are calculated using the weighted average number of shares of the Company’s common stock issued and outstanding during a certain period and are 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 are 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. The non-controlling interests in APC are allocated their share of Astrana's income from APC’s ownership of Astrana common stock, and this is included in the net income (loss) attributable to non-controlling interest on the condensed consolidated statements of income, therefore, none of the shares of Astrana held by APC are considered outstanding for the purpose of basic or diluted earnings per share computation.

As of June 30, 2025 and December 31, 2024, the total treasury stock, including the Company’s stock held by APC, was 9,903,953 and 10,603,849, respectively. These are treated as treasury shares for accounting purposes, and are not included in the number of shares of common stock outstanding used to calculate earnings per share.

The following potentially dilutive outstanding securities 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 or the conditions to issue such shares were not achieved as of June 30, 2025 and 2024, respectively:


	For the Three Months Ended June 30,				For the Six Months Ended June 30,
	2025		2024		2025		2024
Stock options		113,490		168,207		119,599		168,207
Restricted stock awards and units		812,780		54,280		611,258		156,277
Contingently issuable shares		1,085,413		943,385		1,103,156		943,385
Total potentially dilutive securities		2,011,683		1,165,872		1,834,013		1,267,869

Below is a summary of the earnings per share computations:


Three months ended June 30,	2025		2024
Earnings per share – basic	$	0.19	$	0.40
Earnings per share – diluted	$	0.19	$	0.40
Weighted average shares of common stock outstanding – basic		49,187,885		47,615,096
Weighted average shares of common stock outstanding – diluted		49,470,677		47,978,491


Six months ended June 30,	2025		2024
Earnings per share – basic	$	0.33	$	0.72
Earnings per share – diluted	$	0.33	$	0.71
Weighted average shares of common stock outstanding – basic		48,831,265		47,437,722
Weighted average shares of common stock outstanding – diluted		49,162,653		47,795,082

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


Three months ended June 30,	2025		2024
Weighted average shares of common stock outstanding – basic		49,187,885		47,615,096
Stock options		93,193		191,196
Restricted stock awards and units and ESPP shares		42,245		141,489
Contingently issuable shares		147,354		30,710
Weighted average shares of common stock outstanding – diluted		49,470,677		47,978,491


Six months ended June 30,	2025		2024
Weighted average shares of common stock outstanding – basic		48,831,265		47,437,722
Stock options		103,026		190,073
Restricted stock awards and units and ESPP shares		86,150		136,407
Contingently issuable shares		142,212		30,880
Weighted average shares of common stock outstanding – diluted		49,162,653		47,795,082