Earnings Per Share

3 Months Ended

Mar. 31, 2024

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 March 31, 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 March 31, 2024 and 2023, restricted stock of 118,142 and 136,932, 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 months ended March 31, 2024 and 2023, 973,461 and 395,472 of contingently issuable shares were excluded from the computation of diluted weighted average common shares outstanding because these conditions were not achieved as of March 31, 2024 and 2023, respectively.

Below is a summary of the earnings per share computations:


Three Months Ended March 31,	2024		2023
Earnings per share – basic	$	0.31	$	0.28
Earnings per share – diluted	$	0.31	$	0.28
Weighted average shares of common stock outstanding – basic	47,260,351		46,555,406
Weighted average shares of common stock outstanding – diluted	47,699,537		46,954,687

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



Three Months Ended March 31,	2024	2023
Weighted average shares of common stock outstanding – basic	47,260,351	46,555,406
Stock options	188,083	306,933
Restricted stock	225,128	48,191
Contingently issuable shares	25,975	44,157
Weighted average shares of common stock outstanding – diluted	47,699,537	46,954,687