Net Earnings Per Share

6 Months Ended

Jun. 30, 2022

Earnings Per Share [Abstract]

Net Earnings Per Share

Note 9. Net Earnings Per Share

Net earnings per share is computed by dividing net income by the weighted average number of common shares and common share equivalents outstanding during the periods presented. In calculating diluted earnings per share, those potential common shares that are found to be anti-dilutive are excluded from the calculation. The table below provides a summary of the numerators and denominators used in determining basic and diluted earnings per share for the three and six months ended June 30, 2022 and 2021.

FG FINANCIAL GROUP, INC.

Notes to Consolidated Financial Statements

($ in thousands)	Three months ended June 30,						Six months ended June 30,
	2022			2021			2022			2021
Basic and diluted:
Net income (loss) from continuing operations	$	(5,478	)	$	440		$	(9,301	)	$	328
Gain attributable to noncontrolling interests		–			(667	)		–			(666	)
Dividends declared on Series A Preferred Shares		(447	)		(447	)		(894	)		(797	)
Loss attributable to FG Financial Group, Inc. common shareholders from continuing operations		(5,925	)		(674	)		(10,195	)		(1,135	)
Weighted average common shares		6,775,501			5,010,377			6,589,296			5,001,731
Loss per common share from continuing operations	$	(0.87	)	$	(0.13	)	$	(1.55	)	$	(0.23	)
Gain from sale of former insurance business	$	–		$	–			–		$	145
Weighted average common shares outstanding		6,775,501			5,010,377			6,589,296			5,001,731
Income per common share from discontinued operations	$	–		$	–		$	–		$	0.03

The following potentially dilutive securities outstanding as of June 30, 2022 and 2021 have been excluded from the computation of diluted weighted-average shares outstanding as their effect would be anti-dilutive.

	As of June 30,
	2022		2021
Warrants to purchase common stock		–		1,500,000
Options to purchase common stock		130,000		130,000
Restricted stock units		133,859		126,419
		263,859		1,756,419