Earnings Per Share

6 Months Ended

Jun. 30, 2022

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 ApolloMed 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, preferred stock, and the treasury stock method for options and common stock warrants.

As of June 30, 2022 and December 31, 2021, APC held 11,175,702 and 10,925,702 shares of ApolloMed’s common stock, respectively, 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, 2022 and June 30, 2021, restricted stock of 394,606 and 0, 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, 2022 and June 30, 2021, restricted stock of 257,193 and 0, 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, 2022, 242,899 of restricted stock with performance conditions were excluded from the computation of diluted weighted average common shares outstanding because these conditions were not achieved as of June 30, 2022.

Below is a summary of the earnings per share computations:


Three Months Ended June 30,	2022		2021
Earnings per share – basic	$	0.25	$	0.29
Earnings per share – diluted	$	0.25	$	0.28
Weighted average shares of common stock outstanding – basic	44,858,657		44,165,264
Weighted average shares of common stock outstanding – diluted	46,023,015		45,828,802


Six Months Ended June 30,	2022		2021
Earnings per share – basic	$	0.57	$	0.60
Earnings per share – diluted	$	0.56	$	0.58
Weighted average shares of common stock outstanding – basic	44,815,307		43,255,901
Weighted average shares of common stock outstanding – diluted	46,082,643		44,746,761

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


Three Months Ended June 30,	2022	2021
Weighted average shares of common stock outstanding – basic	44,858,657	44,165,264
Stock options	418,322	466,104
Warrants	651,725	992,723
Restricted stock awards	94,311	204,711
Weighted average shares of common stock outstanding – diluted	46,023,015	45,828,802


Six Months Ended June 30,	2022	2021
Weighted average shares of common stock outstanding – basic	44,815,307	43,255,901
Stock options	455,170	409,154
Warrants	689,240	911,131
Restricted stock awards	122,926	170,575
Weighted average shares of common stock outstanding – diluted	46,082,643	44,746,761