Earnings Per Share

12 Months Ended

Dec. 31, 2023

Basic earnings per share of Class A common stock is computed by dividing net income attributable to DMS Inc. by the weighted-average number of shares of Class A common stock outstanding during the period. Diluted earnings per share of Class A common stock is computed by dividing net income attributable to DMS Inc. adjusted for the income effects of dilutive instruments by the weighted-average number of shares of Class A common stock outstanding adjusted to give effect to potentially dilutive elements.

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted loss per share of Class A common stock (in thousands, except share data):


	Years Ended December 31,
		2023		2022
Numerator:
Net loss		$	(122,693)	$	(52,500)

Net loss attributable to non-controlling interest		(41,012)		(20,548)
Accretion and dividend Series A and B convertible redeemable preferred stock		(11,653)		—
Net loss attributable to Digital Media Solutions, Inc. - Class A common stock - basic		$	(93,334)	$	(31,952)





Denominator:
Weighted-average Class A common shares outstanding – basic		2,920		2,581

Add: dilutive effects of equity awards under the 2020 Omnibus Incentive Plan		—		2



Weighted-average Class A common shares outstanding – diluted		2,920		2,583

Net loss per common share:
Basic – per Class A common shares		$	(31.96)	$	(12.38)
Diluted – per Class A common shares		$	(31.96)	$	(12.37)

Shares of the Company’s Class B convertible common stock and Series A and B Preferred stock do not participate in the earnings or losses of the Company and are therefore not participating securities. As such, separate basic and diluted earnings per share of Class B convertible common stock and Series A and B Preferred stock under the two-class method has not been presented.

For the year ended December 31, 2023, the Company excluded 0.2 million shares of Class B convertible common stock, 80 thousand Series A Preferred stock, 60 thousand Series B Preferred stock, 4.0 million Private Placement Warrants, 10.0 million Public Warrants, 14.4 million Preferred Warrants, 0.1 million stock options, 27.4 thousand RSUs, 12.0 thousand PRSUs, and the contingent and deferred considerations issued in connection with the ClickDealer and Aramis acquisitions as their effect would have been anti-dilutive. For the year ended December 31, 2022, the Company excluded 4.0 million Private Placement Warrants, 10.0 million Public Warrants, 0.1 million stock options, 0.1 million RSUs and 20.0 thousand PRSUs, and the contingent and deferred considerations issued in connection with the AAP and Crisp Results acquisitions, as their effect would have been anti-dilutive. For the year ended December 31, 2022, the Company excluded the Class B convertible stock, as their effect would have been anti-dilutive.