Earnings per Share

12 Months Ended

Dec. 31, 2025

10. Earnings per Share

The following table presents the basic and diluted earnings per common share computations.


	Year Ended December 31,
(In thousands, except per share data)		2025		2024		2023
Net income (loss) allocated to common stockholders


Income (Loss) from continuing operations attributable to DigitalBridge Group, Inc.		$	145,978	$	89,214	$	241,279
Preferred stock repurchases/redemptions (Note 7)		—		—		927
Preferred dividends		(58,641)		(58,641)		(58,656)
Income (Loss) allocated to participating securities		(1,846)		(221)		(2,179)
Income (Loss) from continuing operations attributable to common stockholders		85,491		30,352		181,371
Income (Loss) from discontinued operations attributable to common stockholders		(4,104)		(18,692)		(55,999)
Net income (loss) attributable to common stockholders—basic		81,387		11,660		125,372
Interest expense attributable to exchangeable notes (Note 6)		—		—		5,050
Net income (loss) allocated to common stockholders—basic and diluted		$	81,387	$	11,660	$	130,422
Weighted average common shares outstanding
Weighted average number of common shares outstanding—basic		175,456		168,437		159,868
Weighted average effect of dilutive shares (1)(2)(3)		277		381		9,852
Weighted average number of common shares outstanding—diluted		175,733		168,818		169,720
Income (Loss) per share—basic
Income (Loss) from continuing operations		$	0.48	$	0.18	$	1.13
Income (Loss) from discontinued operations		(0.02)		(0.11)		(0.35)
Net income (loss) attributable to common stockholders per common share—basic		$	0.46	$	0.07	$	0.78
Income (Loss) per share—diluted
Income (Loss) from continuing operations		$	0.48	$	0.18	$	1.10
Income (Loss) from discontinued operations		(0.02)		(0.11)		(0.33)
Net income (loss) attributable to common stockholders per common share—diluted		$	0.46	$	0.07	$	0.77

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(1) The calculation of diluted earnings per share includes the weighted average effect of class A common shares and share equivalents issuable in relation to the following dilutive securities: (i) performance stock units (Note 12) of 140,500, 130,415 and 118,484 in 2025. 2024 and 2023, respectively; (ii) DBRG stock warrants that were in-the-money (Note 9) of 136,408 in 2025; (iii) Wafra contingent consideration that was settled in March 2024 (Note 7) of 250,920 in 2024 and 1,209,536 in 2023; and (iv) senior notes that are no longer outstanding effective April 2024 (Note 6) of $5.0 million of interest expense and 8,524,130 shares in 2023.

(2) The calculation of diluted earnings per share excludes the effects of the following as their inclusion would be antidilutive: (i) DBRG stock warrants that were in-the-money (Note 9) of 752,100 in 2024 and 667,400 in 2023; and (ii) senior notes that are no longer outstanding effective April 2024 (Note 6) of $0.4 million and $3.1 million of interest expense and 2,310,200 and 912,900 shares in 2024 and 2023, respectively.

(3) OP units may be redeemed for registered or unregistered class A common stock of the Company on a one-for-one basis and are not dilutive. At December 31, 2025 , 2024 and 2023, 5,795,060, 11,923,400 and 12,375,800 of OP units, respectively, were not included in the computation of diluted earnings per share in the respective periods presented.