EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2025

We calculate our basic earnings per share by dividing net income (loss) attributable to Civeo Corporation by the weighted average number of common shares outstanding. For diluted earnings per share, the basic shares outstanding are adjusted by adding all potentially dilutive securities.

The calculation of basic and diluted earnings per share attributable to Civeo common shareholders is presented below for the years ended December 31, 2025, 2024 and 2023 (in thousands, except per share amounts):


	2025		2024		2023
Numerator:
Basic net income (loss) attributable to Civeo Corporation	$	(20,071)	$	(17,067)	$	30,157


Diluted net income (loss) attributable to Civeo Corporation	$	(20,071)	$	(17,067)	$	30,157

Denominator:
Weighted average shares outstanding - basic	12,646		14,287		14,906
Dilutive shares - share-based awards	—		—		107
Weighted average shares outstanding - diluted	12,646		14,287		15,013

Basic net income (loss) per share attributable to Civeo Corporation common shareholders (1)	$	(1.59)	$	(1.19)	$	2.02

Diluted net income (loss) per share attributable to Civeo Corporation common shareholders (1)	$	(1.59)	$	(1.19)	$	2.01

(1)Computations may reflect rounding adjustments.

Share-based awards that have been excluded from the calculation of weighted-average common shares outstanding because the effect is anti-dilutive totaled 0.1 million shares, 0.1 million shares and fewer than 0.1 million shares, respectively, for the years ended December 31, 2025, 2024 and 2023.